Logan Capital Management Inc. Cuts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Logan Capital Management Inc. reduced its stake in BlackRock, Inc. (NYSE:BLKFree Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,867 shares of the asset manager’s stock after selling 155 shares during the quarter. Logan Capital Management Inc.’s holdings in BlackRock were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock during the 4th quarter worth $27,000. Private Wealth Management Group LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA raised its position in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the period. Northwest Financial Advisors bought a new stake in BlackRock in the fourth quarter worth $32,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in BlackRock during the fourth quarter valued at about $32,000. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

BlackRock Stock Down 0.3 %

Shares of NYSE BLK opened at $766.59 on Tuesday. The firm has a fifty day simple moving average of $779.07 and a two-hundred day simple moving average of $789.84. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $113.92 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.59 and a beta of 1.34.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. BlackRock’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $7.93 earnings per share. Equities analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be given a dividend of $5.10 per share. The ex-dividend date is Friday, June 7th. This represents a $20.40 annualized dividend and a dividend yield of 2.66%. BlackRock’s dividend payout ratio is presently 51.84%.

Analysts Set New Price Targets

Several research analysts have recently commented on BLK shares. JPMorgan Chase & Co. lifted their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. UBS Group raised their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

Get Our Latest Stock Report on BlackRock

About BlackRock

(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.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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