Red Spruce Capital LLC Sells 64 Shares of BlackRock, Inc. (NYSE:BLK)

Red Spruce Capital LLC trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,018 shares of the asset manager’s stock after selling 64 shares during the period. BlackRock accounts for approximately 1.3% of Red Spruce Capital LLC’s holdings, making the stock its 25th largest position. Red Spruce Capital LLC’s holdings in BlackRock were worth $2,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. XML Financial LLC grew its position in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after buying an additional 12 shares during the period. Hexagon Capital Partners LLC grew its holdings in BlackRock by 6.1% during the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 13 shares during the period. Forza Wealth Management LLC raised its holdings in BlackRock by 1.3% in the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after purchasing an additional 13 shares during the period. Rosenberg Matthew Hamilton grew its holdings in shares of BlackRock by 4.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after buying an additional 13 shares during the period. Finally, Tortoise Investment Management LLC increased its position in shares of BlackRock by 17.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after buying an additional 13 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BLK. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. StockNews.com assumed coverage on shares of BlackRock in a research note on Friday. They issued a “hold” rating on the stock. The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley reduced their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $932.71.

BlackRock Stock Down 0.2 %

BLK traded down $2.30 on Friday, hitting $949.19. 491,906 shares of the company were exchanged, compared to its average volume of 575,968. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock’s fifty day moving average is $890.01 and its 200-day moving average is $826.67. The company has a market cap of $141.05 billion, a PE ratio of 24.12, a PEG ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $960.74.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.28 EPS. Equities research analysts predict that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.15%. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Activity

In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by company insiders.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.