BKM Wealth Management LLC Sells 22 Shares of BlackRock, Inc. (NYSE:BLK)

BKM Wealth Management LLC cut its position in BlackRock, Inc. (NYSE:BLK) by 0.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,375 shares of the asset manager’s stock after selling 22 shares during the quarter. BlackRock makes up approximately 1.2% of BKM Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. BKM Wealth Management LLC’s holdings in BlackRock were worth $2,814,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bamco Inc. NY grew its stake in shares of BlackRock by 4.8% during the third quarter. Bamco Inc. NY now owns 2,200 shares of the asset manager’s stock worth $1,422,000 after acquiring an additional 100 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of BlackRock by 4.5% during the third quarter. Bank of Nova Scotia now owns 17,679 shares of the asset manager’s stock worth $11,429,000 after acquiring an additional 769 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in BlackRock in the third quarter valued at approximately $303,000. Caisse DE Depot ET Placement DU Quebec boosted its position in BlackRock by 37.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,797 shares of the asset manager’s stock valued at $22,496,000 after buying an additional 9,539 shares during the last quarter. Finally, Waverly Advisors LLC boosted its position in BlackRock by 16.7% in the third quarter. Waverly Advisors LLC now owns 567 shares of the asset manager’s stock valued at $367,000 after buying an additional 81 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Trading Down 0.5 %

Shares of NYSE BLK traded down $4.11 during mid-day trading on Monday, reaching $783.21. 165,232 shares of the company’s stock were exchanged, compared to its average volume of 602,501. The firm has a market capitalization of $116.39 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company’s 50-day moving average is $779.33 and its 200-day moving average is $793.03.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The company’s 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 EPS. Analysts expect that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio is presently 51.84%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price objective (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. Morgan Stanley upped their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

About BlackRock

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.