Edmond DE Rothschild Holding S.A. Sells 4,838 Shares of BlackRock, Inc. (NYSE:BLK)

Edmond DE Rothschild Holding S.A. lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 41.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,813 shares of the asset manager’s stock after selling 4,838 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in BlackRock were worth $5,962,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BLK. Prime Capital Investment Advisors LLC bought a new stake in shares of BlackRock during the first quarter worth $47,000. Sowell Financial Services LLC lifted its stake in BlackRock by 22.4% in the first quarter. Sowell Financial Services LLC now owns 1,043 shares of the asset manager’s stock valued at $904,000 after buying an additional 191 shares during the period. Meridian Wealth Management LLC raised its position in shares of BlackRock by 19.7% during the first quarter. Meridian Wealth Management LLC now owns 797 shares of the asset manager’s stock worth $601,000 after purchasing an additional 131 shares during the period. Robertson Stephens Wealth Management LLC raised its position in shares of BlackRock by 112.0% during the first quarter. Robertson Stephens Wealth Management LLC now owns 810 shares of the asset manager’s stock worth $610,000 after purchasing an additional 428 shares during the period. Finally, 1ST Source Bank raised its position in shares of BlackRock by 24.1% during the first quarter. 1ST Source Bank now owns 1,046 shares of the asset manager’s stock worth $789,000 after purchasing an additional 203 shares during the period. Institutional investors own 78.13% of the company’s stock.

In related news, General Counsel Christopher J. Meade sold 2,106 shares of the business’s stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total transaction of $1,847,467.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 175 shares of the business’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $884.50, for a total value of $154,787.50. The disclosure for this sale can be found here. 1.16% of the stock is owned by insiders.

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on BlackRock from $1,018.00 to $1,001.00 and set a “buy” rating on the stock in a research report on Thursday, July 15th. Argus increased their price objective on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Evercore ISI reiterated a “buy” rating on shares of BlackRock in a report on Sunday, June 6th. Jefferies Financial Group increased their price objective on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Finally, UBS Group increased their price objective on BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, July 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, BlackRock presently has an average rating of “Buy” and a consensus price target of $953.31.

Shares of NYSE BLK opened at $852.17 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12 month low of $531.39 and a 12 month high of $959.89. The stock has a 50 day moving average of $901.74 and a 200-day moving average of $853.04. The company has a market capitalization of $129.70 billion, a P/E ratio of 23.76, a P/E/G ratio of 2.40 and a beta of 1.15.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 13th. The asset manager reported $10.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.33 by $0.70. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same period in the previous year, the company posted $7.85 EPS. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. Analysts predict that BlackRock, Inc. will post 38.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th will be issued a $4.13 dividend. The ex-dividend date is Friday, September 3rd. This represents a $16.52 annualized dividend and a yield of 1.94%. BlackRock’s dividend payout ratio is presently 48.85%.

BlackRock Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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