U.S. Capital Wealth Advisors LLC Sells 36 Shares of BlackRock, Inc. (NYSE:BLK)

U.S. Capital Wealth Advisors LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 656 shares of the asset manager’s stock after selling 36 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in BlackRock were worth $517,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Canandaigua National Bank & Trust Co. bought a new stake in BlackRock during the 2nd quarter valued at approximately $3,930,000. Jamison Private Wealth Management Inc. boosted its stake in BlackRock by 0.5% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 5,208 shares of the asset manager’s stock valued at $4,100,000 after purchasing an additional 27 shares during the period. Wesbanco Bank Inc. boosted its stake in BlackRock by 1.0% during the 2nd quarter. Wesbanco Bank Inc. now owns 7,750 shares of the asset manager’s stock valued at $6,102,000 after purchasing an additional 76 shares during the period. Guinness Asset Management LTD boosted its stake in BlackRock by 15.4% during the 2nd quarter. Guinness Asset Management LTD now owns 239,596 shares of the asset manager’s stock valued at $188,589,000 after purchasing an additional 31,976 shares during the period. Finally, Parkside Investments LLC boosted its stake in BlackRock by 40.0% during the 2nd quarter. Parkside Investments LLC now owns 1,400 shares of the asset manager’s stock valued at $1,102,000 after purchasing an additional 400 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,959 shares of company stock valued at $73,660,507. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BLK stock traded up $1.39 during midday trading on Friday, reaching $856.22. 290,370 shares of the company’s stock traded hands, compared to its average volume of 607,510. The company has a 50-day simple moving average of $808.67 and a two-hundred day simple moving average of $799.32. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $885.10. The company has a market cap of $127.23 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.92 and a beta of 1.32. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the firm posted $9.28 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, analysts anticipate that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.38%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Analyst Ratings Changes

A number of brokerages have commented on BLK. UBS Group reduced their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Evercore ISI raised their price objective on BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Citigroup raised their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Argus raised their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $872.29.

BlackRock Profile

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.