First Pacific Financial Sells 169 Shares of BlackRock (NYSE:BLK)

First Pacific Financial trimmed its holdings in shares of BlackRock (NYSE:BLK) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,059 shares of the asset manager’s stock after selling 169 shares during the period. First Pacific Financial’s holdings in BlackRock were worth $1,002,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. IAG Wealth Partners LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock during the fourth quarter worth about $30,000. Synergy Investment Management LLC bought a new position in shares of BlackRock during the fourth quarter worth about $40,000. Curio Wealth LLC bought a new stake in BlackRock in the 4th quarter valued at approximately $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at approximately $43,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 1.8%

BLK opened at $1,004.50 on Wednesday. The stock has a market cap of $155.62 billion, a PE ratio of 24.40, a PEG ratio of 2.99 and a beta of 1.41. The business has a 50 day moving average of $952.76 and a 200-day moving average of $969.25. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the company posted $9.81 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BLK shares. UBS Group cut their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Citigroup cut their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a report on Saturday, May 24th. Morgan Stanley dropped their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Finally, Argus upped their target price on BlackRock from $1,028.00 to $1,090.00 and gave the company a “buy” rating in a research report on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,096.31.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $852.01, for a total value of $1,704,020.00. Following the sale, the director now directly owns 66,034 shares of the company’s stock, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.98% of the company’s stock.

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.