Becker Capital Management Inc. Sells 707 Shares of BlackRock $BLK

Becker Capital Management Inc. decreased its position in BlackRock (NYSE:BLKFree Report) by 1.4% during the third quarter, HoldingsChannel reports. The firm owned 49,742 shares of the asset manager’s stock after selling 707 shares during the quarter. BlackRock comprises approximately 1.7% of Becker Capital Management Inc.’s holdings, making the stock its 15th biggest position. Becker Capital Management Inc.’s holdings in BlackRock were worth $57,993,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares during the last quarter. Bison Wealth LLC increased its position in BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after buying an additional 17 shares during the period. Schnieders Capital Management LLC. acquired a new position in shares of BlackRock during the second quarter worth approximately $259,000. Creekmur Asset Management LLC boosted its position in shares of BlackRock by 87.5% in the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 14 shares during the period. Finally, GHP Investment Advisors Inc. grew its stake in shares of BlackRock by 2.5% in the second quarter. GHP Investment Advisors Inc. now owns 4,907 shares of the asset manager’s stock worth $5,149,000 after acquiring an additional 118 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Freedom Capital raised shares of BlackRock from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a research note on Monday, December 29th. Morgan Stanley lifted their target price on BlackRock from $1,514.00 to $1,550.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,313.00 price target on shares of BlackRock in a report on Tuesday, December 9th. Finally, Evercore decreased their price objective on BlackRock from $1,300.00 to $1,275.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $1,311.11.

Get Our Latest Research Report on BlackRock

Insider Buying and Selling

In other BlackRock news, CFO Martin Small sold 27,047 shares of BlackRock stock in a transaction on Friday, January 16th. The stock was sold at an average price of $1,171.14, for a total transaction of $31,675,823.58. Following the completion of the transaction, the chief financial officer directly owned 10,557 shares of the company’s stock, valued at approximately $12,363,724.98. This trade represents a 71.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Cohen sold 2,179 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,073.87, for a total transaction of $2,339,962.73. Following the completion of the sale, the director owned 6,543 shares in the company, valued at $7,026,331.41. This represents a 24.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 111,319 shares of company stock valued at $123,999,249. 1.98% of the stock is owned by insiders.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

BlackRock Stock Down 2.5%

Shares of BLK opened at $1,062.70 on Monday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $1,094.88 and a two-hundred day moving average price of $1,102.75. The stock has a market cap of $164.88 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 1.33 and a beta of 1.48. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, beating the consensus estimate of $12.55 by $0.61. BlackRock had a return on equity of 14.78% and a net margin of 22.93%.The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.80 billion. During the same period in the prior year, the company posted $11.93 EPS. The company’s revenue was up 23.4% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. This is a positive change from BlackRock’s previous quarterly dividend of $5.21. The ex-dividend date is Friday, March 6th. BlackRock’s dividend payout ratio (DPR) is currently 58.84%.

BlackRock Profile

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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