Cooper Financial Group Sells 160 Shares of BlackRock, Inc. (NYSE:BLK)

Cooper Financial Group lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 23.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531 shares of the asset manager’s stock after selling 160 shares during the quarter. Cooper Financial Group’s holdings in BlackRock were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in BlackRock in the 4th quarter valued at $1,812,920,000. Capital World Investors lifted its position in BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after buying an additional 1,279,952 shares in the last quarter. Capital Research Global Investors grew its holdings in BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after acquiring an additional 749,654 shares during the last quarter. Mayflower Financial Advisors LLC increased its position in BlackRock by 24,171.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after acquiring an additional 414,300 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BLK shares. Citigroup raised their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Argus upped their target price 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, UBS Group dropped their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $872.29.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold a total of 88,959 shares of company stock worth $73,660,507 over the last ninety days. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Up 1.5 %

Shares of BLK traded up $12.72 during trading hours on Tuesday, reaching $850.99. The stock had a trading volume of 121,303 shares, compared to its average volume of 603,714. The firm has a 50-day moving average of $811.59 and a 200 day moving average of $800.24. 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 company has a market cap of $126.46 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.92 and a beta of 1.32. 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 results 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 company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the company earned $9.28 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that BlackRock, Inc. will post 41.23 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

BlackRock Company 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.