Procyon Advisors LLC Cuts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Procyon Advisors LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 56.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 416 shares of the asset manager’s stock after selling 541 shares during the period. Procyon Advisors LLC’s holdings in BlackRock were worth $338,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of BlackRock by 2.3% in the 2nd quarter. State Street Corp now owns 6,152,336 shares of the asset manager’s stock worth $4,252,126,000 after buying an additional 138,455 shares during the last quarter. Morgan Stanley grew its position in BlackRock by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after purchasing an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in BlackRock by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after purchasing an additional 35,161 shares during the last quarter. FMR LLC grew its position in BlackRock by 22.0% during the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after purchasing an additional 379,631 shares during the last quarter. Finally, Northern Trust Corp grew its position in BlackRock by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock worth $1,463,536,000 after purchasing an additional 15,290 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.2 %

Shares of NYSE BLK opened at $833.70 on Friday. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $805.91 and a 200 day moving average of $743.31. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The stock has a market cap of $124.17 billion, a PE ratio of 22.83, a P/E/G ratio of 1.84 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $0.82. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.93 earnings per share. As a group, sell-side analysts predict that BlackRock, Inc. will post 39.81 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were paid a dividend of $5.10 per share. The ex-dividend date was Wednesday, March 6th. This represents a $20.40 dividend on an annualized basis and a yield of 2.45%. This is a positive change from BlackRock’s previous quarterly dividend of $5.00. BlackRock’s payout ratio is 55.88%.

Analyst Ratings Changes

Several analysts have commented on BLK shares. UBS Group lifted their price objective on shares of BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. cut shares of BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price for the company. in a research note on Friday, December 15th. Finally, BNP Paribas upgraded shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 target price for the company in a research note on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $785.73.

Read Our Latest Analysis on BlackRock

Insider Activity

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the transaction, the director now directly owns 70,378 shares in the company, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock valued at $71,864,028 in the last quarter. Insiders own 0.96% of the company’s stock.

BlackRock 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.

Featured Articles

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.