NBW Capital LLC Has $238,000 Position in BlackRock, Inc. (NYSE:BLK)

NBW Capital LLC cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 16.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286 shares of the asset manager’s stock after selling 57 shares during the period. NBW Capital LLC’s holdings in BlackRock were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BLK. Tennessee Valley Asset Management Partners acquired a new position in BlackRock in the 4th quarter valued at about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new position in shares of BlackRock during the fourth quarter worth approximately $28,000. Pineridge Advisors LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $28,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in BlackRock in the 4th quarter valued at $32,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction that occurred 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 completion of 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 valued at $54,692,570. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup increased their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Morgan Stanley lowered their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Argus raised 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. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $872.29.

BlackRock Price Performance

Shares of BLK traded down $19.33 during mid-day trading on Friday, reaching $846.02. The company had a trading volume of 479,910 shares, compared to its average volume of 644,219. The company’s 50 day simple moving average is $802.82 and its 200 day simple moving average is $798.08. The company has a market capitalization of $125.72 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.92 and a beta of 1.32. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $885.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32.

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 15.53%. 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. Analysts expect that BlackRock, Inc. will post 41.23 EPS for the current 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 given a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.41%. BlackRock’s dividend payout ratio is presently 51.84%.

About BlackRock

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.