Marcum Wealth LLC Sells 104 Shares of BlackRock, Inc. (NYSE:BLK)

Marcum Wealth LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 951 shares of the asset manager’s stock after selling 104 shares during the period. Marcum Wealth LLC’s holdings in BlackRock were worth $793,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Emerald Advisors LLC boosted its position in shares of BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of BlackRock by 1.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after purchasing an additional 21 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its position in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares in the last quarter. McGlone Suttner Wealth Management Inc. boosted its position in shares of BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after purchasing an additional 60 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of BlackRock during the 4th quarter valued at about $439,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was 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 of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction on Friday, May 10th. The stock was 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 of the company’s stock, valued at $5,151,600. The sale 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 stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. UBS Group upped their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Morgan Stanley upped their price target 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Stock Performance

Shares of BlackRock stock opened at $788.25 on Friday. The company has a market cap of $117.13 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.62 and a beta of 1.34. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The business has a 50 day moving average price of $775.61 and a 200-day moving average price of $791.21. 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 issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.93 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, June 7th. BlackRock’s payout ratio is 51.84%.

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.