BlackRock, Inc. (NYSE:BLK) Stake Lowered by RNC Capital Management LLC

RNC Capital Management LLC lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,319 shares of the asset manager’s stock after selling 139 shares during the period. BlackRock comprises approximately 3.2% of RNC Capital Management LLC’s holdings, making the stock its 7th largest holding. RNC Capital Management LLC’s holdings in BlackRock were worth $53,838,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. West Tower Group LLC purchased a new position in shares of BlackRock during the second quarter valued at $27,000. Tyler Stone Wealth Management purchased a new position in shares of BlackRock during the second quarter valued at $33,000. Exchange Traded Concepts LLC increased its stake in shares of BlackRock by 671.4% during the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares during the period. FSC Wealth Advisors LLC purchased a new position in shares of BlackRock during the fourth quarter valued at $40,000. Finally, Selway Asset Management purchased a new position in shares of BlackRock during the third quarter valued at $41,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock worth $71,864,028 over the last three months. 1.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price on the stock. in a research note on Friday, December 15th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group raised their price target on BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. The Goldman Sachs Group raised their price target on BlackRock from $719.00 to $793.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. Finally, BNP Paribas raised BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 target price for the company in a report on Tuesday, December 12th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $785.73.

BlackRock Trading Up 1.9 %

Shares of NYSE:BLK opened at $835.48 on Thursday. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The company has a market capitalization of $124.44 billion, a PE ratio of 22.88, a PEG ratio of 1.80 and a beta of 1.37. The business has a 50 day moving average of $804.21 and a two-hundred day moving average of $742.03. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $0.82. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $8.93 earnings per share. As a group, analysts forecast that BlackRock, Inc. will post 39.73 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th were given a $5.10 dividend. The ex-dividend date was Wednesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $5.00. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.44%. BlackRock’s payout ratio is 55.88%.

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.