BlackRock, Inc. (NYSE:BLK) Shares Sold by Lane & Associates LLC

Lane & Associates LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 30.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 463 shares of the asset manager’s stock after selling 203 shares during the quarter. Lane & Associates LLC’s holdings in BlackRock were worth $386,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Paralel Advisors LLC increased its stake in BlackRock by 1.2% during the 3rd quarter. Paralel Advisors LLC now owns 2,859 shares of the asset manager’s stock worth $1,848,000 after buying an additional 33 shares in the last quarter. LPL Financial LLC grew its position in shares of BlackRock by 7.7% in the third quarter. LPL Financial LLC now owns 127,902 shares of the asset manager’s stock valued at $82,687,000 after purchasing an additional 9,095 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of BlackRock by 27.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,573 shares of the asset manager’s stock valued at $1,017,000 after purchasing an additional 334 shares in the last quarter. Personal CFO Solutions LLC grew its position in BlackRock by 6.5% in the third quarter. Personal CFO Solutions LLC now owns 848 shares of the asset manager’s stock worth $548,000 after acquiring an additional 52 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in BlackRock by 6.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,172 shares of the asset manager’s stock worth $7,223,000 after acquiring an additional 675 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Monday, May 20th. The shares were 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 approximately $309,327,694.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s 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 owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 9,000 shares of the business’s 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 owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

BlackRock Price Performance

Shares of BlackRock stock traded up $13.77 during trading on Monday, hitting $801.37. 208,554 shares of the company were exchanged, compared to its average volume of 605,887. 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, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The stock has a market capitalization of $119.08 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.62 and a beta of 1.34. The firm has a 50 day moving average price of $775.61 and a 200 day moving average price of $791.81.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (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 previous year, the firm posted $7.93 EPS. On average, equities analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a $5.10 dividend. The ex-dividend date is Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.55%. BlackRock’s payout ratio is currently 51.84%.

Analysts Set New Price Targets

A number of research analysts have commented on BLK shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. UBS Group increased their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $845.42.

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.