Eagle Global Advisors LLC Reduces Stock Position in BlackRock, Inc. (NYSE:BLK)

Eagle Global Advisors LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,993 shares of the asset manager’s stock after selling 460 shares during the quarter. Eagle Global Advisors LLC’s holdings in BlackRock were worth $9,736,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BLK. Norges Bank purchased a new stake in shares of BlackRock during the 4th quarter valued at about $1,812,920,000. International Assets Investment Management LLC lifted its holdings in BlackRock by 77,524.5% during the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after purchasing an additional 641,128 shares in the last quarter. FMR LLC lifted its holdings in BlackRock by 22.0% during the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after purchasing an additional 379,631 shares in the last quarter. Invesco Ltd. lifted its holdings in BlackRock by 84.4% during the third quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock valued at $481,486,000 after purchasing an additional 340,792 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in BlackRock by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after purchasing an additional 307,516 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. Insiders sold a total of 70,956 shares of company stock valued at $57,252,931 over the last three months. 0.90% of the stock is owned by company insiders.

BlackRock Trading Down 0.3 %

NYSE BLK traded down $2.61 on Friday, hitting $781.94. 429,037 shares of the stock were exchanged, compared to its average volume of 606,121. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The stock has a fifty day moving average price of $790.38 and a two-hundred day moving average price of $781.53. The firm has a market capitalization of $116.20 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.65 and a beta of 1.37. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

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

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, June 6th. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analyst Weigh In

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

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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