SVB Wealth LLC Has $8.57 Million Holdings in BlackRock, Inc. (NYSE:BLK)

SVB Wealth LLC lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,884 shares of the asset manager’s stock after selling 634 shares during the period. SVB Wealth LLC’s holdings in BlackRock were worth $8,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BLK. Redmont Wealth Advisors LLC purchased a new stake in BlackRock in the 1st quarter valued at about $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock in the 4th quarter valued at about $28,000. Pineridge Advisors LLC purchased a new stake in BlackRock in the 4th quarter valued at about $28,000. Northwest Financial Advisors purchased a new stake in BlackRock in the 4th quarter valued at about $32,000. Finally, Lam Group Inc. purchased a new stake in BlackRock in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley reduced their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Citigroup raised their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Barclays initiated coverage on shares of BlackRock in a report on Tuesday, August 27th. They issued an “overweight” rating and a $985.00 price objective for the company. Finally, Evercore ISI raised their price objective on shares of BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $883.13.

Insider Activity

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,527,116. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 over the last three months. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.1 %

NYSE:BLK traded down $9.72 during mid-day trading on Friday, hitting $866.92. 748,945 shares of the company’s stock were exchanged, compared to its average volume of 587,817. BlackRock, Inc. has a one year low of $596.18 and a one year high of $903.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business has a fifty day moving average price of $848.57 and a 200 day moving average price of $811.77. The company has a market cap of $128.82 billion, a PE ratio of 22.03, a P/E/G ratio of 1.97 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $9.28 earnings per share. Equities analysts predict that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.35%. BlackRock’s payout ratio is 51.84%.

BlackRock Company 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.