Cyrus J. Lawrence LLC Has $6.67 Million Stake in BlackRock, Inc. (NYSE:BLK)

Cyrus J. Lawrence LLC lowered its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,468 shares of the asset manager’s stock after selling 20 shares during the period. Cyrus J. Lawrence LLC’s holdings in BlackRock were worth $6,667,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BLK. Gilbert & Cook Inc. increased its stake in 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 acquiring an additional 62 shares during the period. Gryphon Financial Partners LLC bought a new stake in BlackRock in the fourth quarter valued at $354,000. TrinityPoint Wealth LLC raised its stake in BlackRock by 3.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 1,380 shares of the asset manager’s stock worth $1,120,000 after acquiring an additional 51 shares in the last quarter. Evermay Wealth Management LLC lifted its holdings in shares of BlackRock by 6.9% during the fourth quarter. Evermay Wealth Management LLC now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 29 shares during the period. Finally, JARISLOWSKY FRASER Ltd acquired a new stake in shares of BlackRock in the 4th quarter valued at $734,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of several analyst reports. Citigroup lifted their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Barclays boosted their target price on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. TD Cowen dropped their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Argus boosted their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company initiated coverage on BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $902.13.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’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 value of $24,833,712.50. Following the completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 in the last 90 days. 0.90% of the stock is owned by company insiders.

BlackRock Price Performance

BlackRock stock opened at $928.79 on Monday. The business’s 50-day simple moving average is $868.55 and its 200 day simple moving average is $817.80. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $138.02 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. The company 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 revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $9.28 EPS. As a group, research analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, September 9th. 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.