Financiere des Professionnels Fonds d investissement inc. Sells 100 Shares of BlackRock, Inc. (NYSE:BLK)

Financiere des Professionnels Fonds d investissement inc. reduced its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 780 shares of the asset manager’s stock after selling 100 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in BlackRock were worth $650,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of BlackRock during the fourth quarter worth about $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock in the fourth quarter worth about $28,000. Pineridge Advisors LLC purchased a new stake in BlackRock in the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA lifted its holdings in BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in BlackRock in the fourth quarter worth about $32,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.6 %

Shares of BLK traded up $4.77 on Friday, hitting $787.60. 872,955 shares of the stock traded hands, compared to its average volume of 541,837. The company has a market capitalization of $117.04 billion, a PE ratio of 20.03, a P/E/G ratio of 1.62 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The business has a 50 day simple moving average of $775.61 and a 200 day simple moving average of $791.21. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the firm posted $7.93 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on BLK shares. UBS Group raised their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Morgan Stanley raised their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

View Our Latest Report on BLK

BlackRock Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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