American International Group Inc. Sells 2,971 Shares of BlackRock, Inc. (NYSE:BLK)

American International Group Inc. lessened its stake in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 48,038 shares of the asset manager’s stock after selling 2,971 shares during the period. American International Group Inc.’s holdings in BlackRock were worth $34,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of BlackRock by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,492,083 shares of the asset manager’s stock valued at $7,424,424,000 after acquiring an additional 444,552 shares during the last quarter. BlackRock Inc. boosted its position in shares of BlackRock by 1.8% during the 3rd quarter. BlackRock Inc. now owns 9,696,425 shares of the asset manager’s stock valued at $5,335,747,000 after acquiring an additional 174,789 shares during the last quarter. State Street Corp boosted its position in shares of BlackRock by 4.3% during the 3rd quarter. State Street Corp now owns 6,319,438 shares of the asset manager’s stock valued at $3,477,460,000 after acquiring an additional 259,896 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BlackRock by 15.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock valued at $1,777,933,000 after acquiring an additional 310,256 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of BlackRock by 0.8% in the 1st quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock valued at $1,463,536,000 after acquiring an additional 15,290 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

BlackRock Trading Up 1.8 %

NYSE:BLK traded up $11.71 during midday trading on Friday, hitting $672.23. The stock had a trading volume of 161,449 shares, compared to its average volume of 673,355. The stock has a 50-day moving average of $658.93 and a 200 day moving average of $695.99. The company has a market capitalization of $100.67 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.99 and a beta of 1.27. BlackRock, Inc. has a one year low of $503.12 and a one year high of $785.65. The company has a quick ratio of 4.20, a current ratio of 4.20 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings results on Friday, April 14th. The asset manager reported $7.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.71 by $0.22. BlackRock had a return on equity of 13.66% and a net margin of 28.13%. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company earned $9.52 EPS. The business’s revenue was down 9.7% compared to the same quarter last year. As a group, sell-side analysts forecast that BlackRock, Inc. will post 34.43 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Thursday, June 8th will be given a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, June 7th. BlackRock’s dividend payout ratio (DPR) is 62.03%.

Wall Street Analyst Weigh In

BLK has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $800.00 to $779.00 and set an “overweight” rating for the company in a report on Wednesday, March 29th. Bank of America increased their price target on shares of BlackRock from $868.00 to $920.00 and gave the company a “buy” rating in a report on Monday, April 17th. Morgan Stanley raised their price target on BlackRock from $829.00 to $861.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. Credit Suisse Group raised their price target on BlackRock from $662.00 to $673.00 and gave the stock a “neutral” rating in a research report on Monday, April 17th. Finally, Wells Fargo & Company lowered their price target on BlackRock from $840.00 to $780.00 and set an “overweight” rating for the company in a research report on Wednesday, April 5th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $755.92.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $696.00, for a total transaction of $2,088,000.00. Following the transaction, the director now owns 71,307 shares of the company’s stock, valued at approximately $49,629,672. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Laurence Fink sold 35,799 shares of the business’s stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $694.50, for a total value of $24,862,405.50. Following the completion of the transaction, the chief executive officer now directly owns 484,325 shares of the company’s stock, valued at approximately $336,363,712.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director J. Richard Kushel sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $696.00, for a total transaction of $2,088,000.00. Following the transaction, the director now owns 71,307 shares of the company’s stock, valued at approximately $49,629,672. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,374 shares of company stock valued at $27,346,615. Company insiders own 0.96% of the company’s stock.

BlackRock Profile

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BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Susan L.