Sound View Wealth Advisors Group LLC cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 14.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 535 shares of the asset manager’s stock after selling 89 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in BlackRock were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the stock. Larson Financial Group LLC increased its position in shares of BlackRock by 228.6% during the second quarter. Larson Financial Group LLC now owns 46 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 32 shares during the last quarter. Smith Asset Management Group LP increased its holdings in BlackRock by 360.0% in the 1st quarter. Smith Asset Management Group LP now owns 69 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 54 shares during the last quarter. Watson Rebecca purchased a new stake in BlackRock in the second quarter valued at approximately $30,000. Key Financial Inc acquired a new position in BlackRock during the first quarter worth $40,000. Finally, Balentine LLC purchased a new position in shares of BlackRock during the first quarter worth $42,000. 82.79% of the stock is owned by hedge funds and other institutional investors.
In other BlackRock news, General Counsel Christopher J. Meade sold 2,000 shares of BlackRock stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $526.04, for a total value of $1,052,080.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 360 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $583.20, for a total value of $209,952.00. The disclosure for this sale can be found here. Insiders have sold 50,748 shares of company stock valued at $29,248,701 in the last 90 days. Company insiders own 1.42% of the company’s stock.
Several equities analysts recently issued reports on the company. Credit Suisse Group reissued a “buy” rating and set a $552.00 target price on shares of BlackRock in a research note on Thursday, May 28th. Bank of America increased their price target on shares of BlackRock from $633.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. dropped their price objective on shares of BlackRock from $526.00 to $524.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Argus increased their target price on shares of BlackRock from $530.00 to $640.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Deutsche Bank decreased their price target on shares of BlackRock from $565.00 to $563.00 and set a “hold” rating for the company in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $600.17.
BLK traded down $7.46 on Thursday, reaching $582.29. The company’s stock had a trading volume of 15,242 shares, compared to its average volume of 474,197. The company has a market capitalization of $89.84 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.02 and a beta of 1.27. BlackRock, Inc. has a fifty-two week low of $323.98 and a fifty-two week high of $605.72. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $571.98 and a two-hundred day moving average of $514.39.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, July 17th. The asset manager reported $7.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.90 by $0.95. BlackRock had a net margin of 29.55% and a return on equity of 14.17%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the firm posted $6.41 EPS. BlackRock’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts anticipate that BlackRock, Inc. will post 29.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th will be issued a $3.63 dividend. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, September 3rd. BlackRock’s payout ratio is currently 50.98%.
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.
Recommended Story: What are the benefits of a portfolio tracker?
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.