1248 Management LLC Sells 455 Shares of BlackRock $BLK

1248 Management LLC lowered its stake in shares of BlackRock (NYSE:BLK) by 33.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 925 shares of the asset manager’s stock after selling 455 shares during the period. 1248 Management LLC’s holdings in BlackRock were worth $875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BLK. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock during the 4th quarter valued at about $30,000. Fairway Wealth LLC increased its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock during the 1st quarter valued at about $31,000. Cheviot Value Management LLC purchased a new stake in shares of BlackRock during the 1st quarter valued at about $30,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in shares of BlackRock during the 1st quarter valued at about $34,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the sale, the chief executive officer owned 263,751 shares of the company’s stock, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group upped their price target on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Barclays increased their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a report on Saturday, May 24th. Finally, Argus reissued a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,151.21.

BlackRock Stock Down 0.2%

NYSE BLK opened at $1,128.45 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market capitalization of $174.74 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.16 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,171.89. The stock has a 50 day moving average price of $1,101.81 and a 200-day moving average price of $997.77.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $10.36 earnings per share. As a group, equities analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

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.