Nemes Rush Group LLC Lowers Position in BlackRock, Inc. (NYSE:BLK)

Nemes Rush Group LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 23.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 200 shares of the asset manager’s stock after selling 60 shares during the period. Nemes Rush Group LLC’s holdings in BlackRock were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. XML Financial LLC increased its holdings in BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after acquiring an additional 12 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of BlackRock by 6.1% during the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 13 shares during the period. Forza Wealth Management LLC lifted its stake in shares of BlackRock by 1.3% during the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after buying an additional 13 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in BlackRock by 4.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the period. Finally, Tortoise Investment Management LLC increased its stake in BlackRock by 17.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after buying an additional 13 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now 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 stock in a transaction 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 sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The transaction 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 business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, 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. In the last ninety days, insiders sold 93,042 shares of company stock valued at $79,387,117. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of recent analyst reports. Argus upped 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. UBS Group cut their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Barclays boosted their target price on shares of BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Morgan Stanley cut their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Wells Fargo & Company assumed coverage on shares of BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $902.13.

BlackRock Trading Up 0.0 %

BLK opened at $945.21 on Monday. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $952.75. 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 stock has a 50-day moving average of $879.35 and a 200 day moving average of $821.74. The firm has a market cap of $140.46 billion, a P/E ratio of 24.02, a P/E/G ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.28 EPS. As a group, research analysts forecast that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.16%. BlackRock’s dividend payout ratio (DPR) 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.