Hengehold Capital Management LLC Sells 40 Shares of BlackRock, Inc. (NYSE:BLK)

Hengehold Capital Management LLC lowered its stake in BlackRock, Inc. (NYSE:BLK) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,182 shares of the asset manager’s stock after selling 40 shares during the quarter. Hengehold Capital Management LLC’s holdings in BlackRock were worth $4,320,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Paralel Advisors LLC raised its stake in BlackRock by 1.2% during the 3rd quarter. Paralel Advisors LLC now owns 2,859 shares of the asset manager’s stock valued at $1,848,000 after purchasing an additional 33 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in BlackRock during the 3rd quarter valued at approximately $3,243,000. Operose Advisors LLC bought a new stake in BlackRock during the 3rd quarter valued at approximately $71,000. O Shaughnessy Asset Management LLC raised its stake in BlackRock by 17.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 14,322 shares of the asset manager’s stock valued at $9,259,000 after purchasing an additional 2,120 shares during the period. Finally, Mather Group LLC. raised its stake in BlackRock by 5.7% during the 3rd quarter. Mather Group LLC. now owns 1,111 shares of the asset manager’s stock valued at $718,000 after purchasing an additional 60 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BlackRock Trading Up 1.0 %

BLK traded up $7.94 during trading hours on Friday, reaching $789.07. 259,399 shares of the company’s stock traded hands, compared to its average volume of 601,914. The firm has a 50-day moving average price of $777.90 and a 200 day moving average price of $792.50. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $117.26 billion, a PE ratio of 20.12, a PEG ratio of 1.63 and a beta of 1.34.

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. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the business earned $7.93 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s dividend payout ratio is 51.84%.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. 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.