Catalina Capital Group LLC Sells 91 Shares of BlackRock $BLK

Catalina Capital Group LLC decreased its holdings in BlackRock (NYSE:BLK) by 18.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 402 shares of the asset manager’s stock after selling 91 shares during the quarter. Catalina Capital Group LLC’s holdings in BlackRock were worth $422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Garde Capital Inc. increased its stake in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the last quarter. Fairway Wealth LLC increased its stake in shares of BlackRock by 76.5% in 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. Game Plan Financial Advisors LLC increased its stake in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of BlackRock in the 1st quarter valued at $31,000. Finally, Cheviot Value Management LLC bought a new position in shares of BlackRock in the 1st quarter valued at $30,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BLK shares. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. The Goldman Sachs Group restated a “buy” rating and set a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Bank of America boosted their price objective on BlackRock from $1,224.00 to $1,396.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Argus restated a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,194.86.

BlackRock Trading Up 1.7%

NYSE BLK opened at $1,160.23 on Friday. The business’s 50-day moving average price is $1,128.92 and its two-hundred day moving average price is $1,026.28. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,183.50. The firm has a market capitalization of $179.66 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 2.18 and a beta of 1.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the company posted $10.36 EPS. The business’s revenue was up 12.9% on a year-over-year basis. On average, analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s payout ratio is 50.39%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 14,828 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock valued at $74,694,573 over the last 90 days. 1.98% of the stock is owned by company insiders.

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.