BI Asset Management Fondsmaeglerselskab A S Sells 1,130 Shares of BlackRock $BLK

BI Asset Management Fondsmaeglerselskab A S cut its position in BlackRock (NYSE:BLK) by 14.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,463 shares of the asset manager’s stock after selling 1,130 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in BlackRock were worth $6,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Evolution Wealth Management Inc. bought a new stake in BlackRock during the fourth quarter valued at about $26,000. Birchbrook Inc. bought a new position in shares of BlackRock in the fourth quarter worth about $31,000. LFA Lugano Financial Advisors SA bought a new position in shares of BlackRock in the fourth quarter worth about $32,000. Basepoint Wealth LLC purchased a new stake in shares of BlackRock during the fourth quarter worth about $32,000. Finally, Swiss RE Ltd. bought a new stake in BlackRock during the 4th quarter valued at approximately $33,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BLK shares. The Goldman Sachs Group boosted their price target on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Morgan Stanley boosted their target price on shares of BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. UBS Group raised their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Evercore decreased their price target on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. Finally, JPMorgan Chase & Co. decreased their target price on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,264.61.

BlackRock Trading Down 0.0%

BLK opened at $1,049.74 on Tuesday. The stock has a 50-day moving average of $1,048.86 and a 200 day moving average of $1,052.07. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The firm has a market cap of $162.95 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.37 and a beta of 1.42.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the business earned $9.64 EPS. The company’s quarterly revenue was up 27.0% on a year-over-year basis. As a group, research analysts forecast that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is 57.53%.

Insiders Place Their Bets

In other BlackRock news, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the completion of the sale, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. This represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by insiders.

About BlackRock

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.