Birch Capital Management LLC Sells 152 Shares of BlackRock, Inc. (NYSE:BLK)

Birch Capital Management LLC lessened its stake in BlackRock, Inc. (NYSE:BLKFree Report) by 41.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 217 shares of the asset manager’s stock after selling 152 shares during the quarter. Birch Capital Management LLC’s holdings in BlackRock were worth $150,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BLK. Keystone Financial Planning Inc. lifted its position in shares of BlackRock by 4.2% during the second quarter. Keystone Financial Planning Inc. now owns 369 shares of the asset manager’s stock worth $255,000 after acquiring an additional 15 shares in the last quarter. Seaport Global Advisors LLC raised its stake in shares of BlackRock by 4.7% during the 4th quarter. Seaport Global Advisors LLC now owns 353 shares of the asset manager’s stock valued at $250,000 after purchasing an additional 16 shares during the period. GHP Investment Advisors Inc. lifted its holdings in BlackRock by 0.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,733 shares of the asset manager’s stock worth $2,646,000 after purchasing an additional 16 shares in the last quarter. Claro Advisors LLC boosted its stake in BlackRock by 1.8% in the 1st quarter. Claro Advisors LLC now owns 884 shares of the asset manager’s stock worth $592,000 after purchasing an additional 16 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in BlackRock by 2.5% during the 1st quarter. Main Street Financial Solutions LLC now owns 653 shares of the asset manager’s stock valued at $439,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 2,079 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $733.82, for a total value of $1,525,611.78. Following the completion of the transaction, the director now directly owns 6,160 shares of the company’s stock, valued at $4,520,331.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other BlackRock news, CEO Laurence Fink sold 20,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total transaction of $14,989,208.00. Following the completion of the transaction, the chief executive officer now owns 464,125 shares of the company’s stock, valued at $344,399,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Wiedman sold 2,079 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $733.82, for a total value of $1,525,611.78. Following the completion of the sale, the director now owns 6,160 shares in the company, valued at approximately $4,520,331.20. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by company insiders.

BlackRock Trading Down 0.4 %

BLK stock opened at $694.89 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.21 and a current ratio of 4.21. The company has a market capitalization of $103.75 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.29. The company’s 50 day moving average price is $706.56 and its two-hundred day moving average price is $681.26. BlackRock, Inc. has a one year low of $503.12 and a one year high of $785.65.

BlackRock (NYSE:BLKGet Free Report) last announced its quarterly earnings results on Friday, July 14th. The asset manager reported $9.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.76. BlackRock had a net margin of 29.90% and a return on equity of 14.29%. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter last year, the firm earned $7.36 EPS. The company’s revenue was down 1.4% on a year-over-year basis. As a group, analysts predict that BlackRock, Inc. will post 35.48 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $5.00 per share. The ex-dividend date is Thursday, September 7th. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.88%. BlackRock’s dividend payout ratio is presently 58.41%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BLK. JPMorgan Chase & Co. reduced their price objective on shares of BlackRock from $780.00 to $770.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. Keefe, Bruyette & Woods upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $770.00 to $835.00 in a research report on Monday, July 10th. Bank of America lowered their price objective on BlackRock from $928.00 to $921.00 in a research report on Sunday, July 16th. StockNews.com assumed coverage on BlackRock in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Wells Fargo & Company raised their price target on BlackRock from $780.00 to $820.00 in a report on Monday, July 17th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $767.69.

Get Our Latest Analysis on BLK

BlackRock Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLKFree Report).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.