Valeo Financial Advisors LLC Sells 126 Shares of BlackRock $BLK

Valeo Financial Advisors LLC cut its stake in BlackRock (NYSE:BLK) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,351 shares of the asset manager’s stock after selling 126 shares during the period. Valeo Financial Advisors LLC’s holdings in BlackRock were worth $3,516,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BLK. Brighton Jones LLC boosted its holdings in BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after acquiring an additional 296 shares during the last quarter. Bison Wealth LLC boosted its holdings in BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in BlackRock by 5.2% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,250 shares of the asset manager’s stock valued at $1,183,000 after acquiring an additional 62 shares during the last quarter. Bank of New Hampshire bought a new stake in BlackRock in the first quarter valued at approximately $439,000. Finally, Capital Investment Advisors LLC boosted its holdings in BlackRock by 3.4% in the first quarter. Capital Investment Advisors LLC now owns 1,506 shares of the asset manager’s stock valued at $1,426,000 after acquiring an additional 50 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on BLK. Morgan Stanley increased their price target on BlackRock from $1,224.00 to $1,362.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a report on Saturday, September 27th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. BMO Capital Markets began coverage on BlackRock in a report on Friday. They set an “outperform” rating and a $1,280.00 price target on the stock. Finally, Bank of America increased their price target on BlackRock from $1,224.00 to $1,396.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,222.87.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,179.86 on Tuesday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,184.13. The stock’s 50 day moving average is $1,130.91 and its 200-day moving average is $1,030.30. The firm has a market capitalization of $182.70 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 2.18 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $10.36 earnings per share. Sell-side analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s dividend payout ratio is presently 50.39%.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by corporate 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.