SVB Wealth LLC Has $4.59 Million Stake in BlackRock $BLK

SVB Wealth LLC decreased its stake in shares of BlackRock (NYSE:BLK) by 37.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,371 shares of the asset manager’s stock after selling 2,601 shares during the quarter. SVB Wealth LLC’s holdings in BlackRock were worth $4,586,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BLK. Westerkirk Capital Inc. bought a new stake in shares of BlackRock in the 2nd quarter worth approximately $2,877,000. Police & Firemen s Retirement System of New Jersey raised its stake in shares of BlackRock by 7.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,167 shares of the asset manager’s stock valued at $24,308,000 after purchasing an additional 1,693 shares in the last quarter. California Public Employees Retirement System lifted its position in BlackRock by 8.2% in the second quarter. California Public Employees Retirement System now owns 256,937 shares of the asset manager’s stock worth $269,591,000 after purchasing an additional 19,404 shares during the period. Opus Investment Management Inc. acquired a new stake in BlackRock during the first quarter worth $1,420,000. Finally, Ally Financial Inc. bought a new stake in BlackRock in the 1st quarter valued at $1,893,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLK. BMO Capital Markets lifted their target price on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Argus raised their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. UBS Group reiterated a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. The Goldman Sachs Group decreased their price target on BlackRock from $1,372.00 to $1,313.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Finally, TD Cowen upped their price target on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,302.59.

BlackRock Stock Down 0.3%

Shares of BLK opened at $1,071.87 on Monday. The company has a market capitalization of $166.30 billion, a P/E ratio of 27.56, a PEG ratio of 1.61 and a beta of 1.47. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The business’s 50 day simple moving average is $1,100.03 and its 200-day simple moving average is $1,085.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 14.80%. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.46 EPS. As a group, sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Friday, December 5th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 5th. BlackRock’s payout ratio is currently 53.59%.

Insider Activity

In other BlackRock news, CFO Martin Small sold 1,258 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the sale, the chief financial officer owned 6,209 shares of the company’s stock, valued at $6,478,346.42. This represents a 16.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.98% of the stock is owned by corporate insiders.

BlackRock 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.