Chesapeake Wealth Management Has $920,000 Position in BlackRock, Inc. (NYSE:BLK)

Chesapeake Wealth Management lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,168 shares of the asset manager’s stock after selling 79 shares during the quarter. Chesapeake Wealth Management’s holdings in BlackRock were worth $920,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock during the first quarter worth approximately $27,000. Pineridge Advisors LLC acquired a new position in BlackRock in the 4th quarter valued at $28,000. Lam Group Inc. bought a new position in BlackRock during the 1st quarter worth $33,000. Fairman Group LLC acquired a new stake in shares of BlackRock during the fourth quarter worth $35,000. Finally, Chilton Capital Management LLC bought a new stake in shares of BlackRock in the first quarter valued at about $38,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on BLK shares. Evercore ISI lifted their price objective on shares of BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays raised their price objective on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley decreased their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $902.13.

BlackRock Trading Down 0.7 %

BLK opened at $928.79 on Friday. The company has a market cap of $138.02 billion, a P/E ratio of 23.60, a PEG ratio of 1.92 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $868.55 and its 200-day moving average is $817.96. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $942.73.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $9.28 earnings per share. Equities research analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be issued a $5.10 dividend. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.20%. BlackRock’s payout ratio is presently 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.