BlackRock, Inc. (NYSE:BLK) Shares Sold by Jaffetilchin Investment Partners LLC

Jaffetilchin Investment Partners LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,090 shares of the asset manager’s stock after selling 36 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in BlackRock were worth $909,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Chicago Capital LLC purchased a new position in shares of BlackRock in the fourth quarter valued at approximately $211,000. True North Advisors LLC raised its holdings in BlackRock by 12.5% in the fourth quarter. True North Advisors LLC now owns 378 shares of the asset manager’s stock valued at $307,000 after acquiring an additional 42 shares in the last quarter. Essex Savings Bank raised its holdings in BlackRock by 26.1% in the fourth quarter. Essex Savings Bank now owns 1,899 shares of the asset manager’s stock valued at $1,542,000 after acquiring an additional 393 shares in the last quarter. Wolf Group Capital Advisors raised its holdings in BlackRock by 2.1% in the fourth quarter. Wolf Group Capital Advisors now owns 911 shares of the asset manager’s stock valued at $740,000 after acquiring an additional 19 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in BlackRock by 3.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 2,347 shares of the asset manager’s stock valued at $1,905,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of a number of research analyst reports. TD Cowen cut their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. UBS Group cut their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Argus lifted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $872.29.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,978 shares of company stock worth $54,692,570. 0.90% of the stock is owned by insiders.

BlackRock Stock Down 1.4 %

Shares of BlackRock stock traded down $11.88 on Thursday, hitting $864.62. 459,402 shares of the company’s stock traded hands, compared to its average volume of 605,886. The stock has a market cap of $128.48 billion, a P/E ratio of 22.28, a PEG ratio of 1.94 and a beta of 1.32. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $799.92 and its 200 day moving average is $797.24. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $885.10.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the business posted $9.28 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend 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.