BlackRock, Inc. (NYSE:BLK) Stock Holdings Lowered by Embree Financial Group

Embree Financial Group lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,180 shares of the asset manager’s stock after selling 171 shares during the quarter. BlackRock accounts for about 0.8% of Embree Financial Group’s holdings, making the stock its 24th largest position. Embree Financial Group’s holdings in BlackRock were worth $4,319,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of BlackRock in the fourth quarter worth about $1,812,920,000. Capital World Investors lifted its position in shares of BlackRock by 57.3% in the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after purchasing an additional 1,279,952 shares in the last quarter. Capital Research Global Investors raised its position in BlackRock by 23.7% during the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after acquiring an additional 749,654 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of BlackRock by 77,524.5% in the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after purchasing an additional 641,128 shares during the last quarter. Finally, Mayflower Financial Advisors LLC increased its holdings in shares of BlackRock by 24,171.5% in the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after purchasing an additional 414,300 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK traded up $9.72 during mid-day trading on Wednesday, reaching $812.00. 517,227 shares of the company traded hands, compared to its average volume of 597,926. 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 firm has a market cap of $120.66 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The stock has a fifty day simple moving average of $784.68 and a 200-day simple moving average of $792.69.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company 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 company earned $7.93 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.51%. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Cowen reduced their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday. UBS Group lowered their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $915.00 target price on shares of BlackRock in a report on Tuesday, July 2nd. Morgan Stanley upped their target price 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. Finally, JPMorgan Chase & Co. boosted their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $845.67.

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.