BlackRock, Inc. (NYSE:BLK) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in BlackRock, Inc. (NYSE:BLK) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,716,189 shares of the asset manager’s stock after selling 29,459 shares during the quarter. Wellington Management Group LLP owned about 1.15% of BlackRock worth $1,393,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Emerald Advisors LLC increased its stake in shares of BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of BlackRock by 1.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after acquiring an additional 21 shares during the last quarter. Carolinas Wealth Consulting LLC increased its stake in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after acquiring an additional 40 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in shares of BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 60 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of BlackRock during the 4th quarter valued at about $439,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BLK. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, UBS Group increased their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Stock Performance

Shares of BLK stock traded down $0.38 on Friday, hitting $769.33. 376,815 shares of the stock traded hands, compared to its average volume of 554,711. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The company has a market capitalization of $114.32 billion, a PE ratio of 19.55, a PEG ratio of 1.59 and a beta of 1.34. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company’s fifty day moving average is $776.01 and its 200 day moving average is $790.70.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned $7.93 earnings per share. On average, equities research analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be paid a dividend of $5.10 per share. The ex-dividend date is Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.65%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

About BlackRock

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.