BlackRock, Inc. (NYSE:BLK) Shares Sold by Crewe Advisors LLC

Crewe Advisors LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 11.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198 shares of the asset manager’s stock after selling 25 shares during the period. Crewe Advisors LLC’s holdings in BlackRock were worth $156,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. PGGM Investments grew its holdings in shares of BlackRock by 95.1% during the fourth quarter. PGGM Investments now owns 1,346 shares of the asset manager’s stock worth $1,093,000 after buying an additional 656 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in BlackRock in the 4th quarter valued at $279,000. Silver Oak Securities Incorporated lifted its stake in shares of BlackRock by 105.9% during the 4th quarter. Silver Oak Securities Incorporated now owns 420 shares of the asset manager’s stock worth $341,000 after purchasing an additional 216 shares during the period. Gilbert & Cook Inc. grew its position in shares of BlackRock by 4.8% in the fourth quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock valued at $1,109,000 after purchasing an additional 62 shares during the period. Finally, Mather Group LLC. increased its stake in BlackRock by 21.1% in the fourth quarter. Mather Group LLC. now owns 1,345 shares of the asset manager’s stock valued at $1,092,000 after purchasing an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE:BLK traded up $7.43 during trading on Friday, hitting $902.30. 478,207 shares of the stock were exchanged, compared to its average volume of 590,117. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company’s fifty day simple moving average is $836.92 and its 200-day simple moving average is $807.82. The company has a market capitalization of $134.08 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32.

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 analysts’ consensus estimates 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 return on equity of 15.53% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.28 EPS. Sell-side analysts expect that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.26%. BlackRock’s dividend payout ratio is 51.84%.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were 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 owns 353,718 shares in the company, valued at approximately $298,272,703.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction 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 $5,407,041.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred 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 transaction, 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. In the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BLK shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Barclays assumed coverage on BlackRock in a report on Tuesday. They set an “overweight” rating and a $985.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Argus raised their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $881.47.

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.