Brown Brothers Harriman & Co. Sells 37 Shares of BlackRock, Inc. (NYSE:BLK)

Brown Brothers Harriman & Co. decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 29,363 shares of the asset manager’s stock after selling 37 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in BlackRock were worth $23,118,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in BLK. Capital World Investors raised its holdings in BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after acquiring an additional 1,279,952 shares in the last quarter. Capital Research Global Investors boosted its position in shares of BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after acquiring an additional 749,654 shares in the last quarter. Mayflower Financial Advisors LLC increased its stake in 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 acquiring an additional 414,300 shares during the period. Vanguard Group Inc. raised its position in BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in BlackRock by 1,829.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 297,985 shares of the asset manager’s stock worth $241,904,000 after purchasing an additional 282,543 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 0.1 %

NYSE:BLK opened at $885.73 on Monday. The firm has a market capitalization of $131.62 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46. The business’s 50-day moving average price is $857.98 and its two-hundred day moving average price is $814.50. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the firm earned $9.28 EPS. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLK. Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Argus raised their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. TD Cowen reduced their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Wells Fargo & Company initiated coverage on shares of BlackRock in a report on Thursday. They issued an “overweight” rating and a $1,000.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.

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.