Insigneo Advisory Services LLC Sells 391 Shares of BlackRock, Inc. (NYSE:BLK)

Insigneo Advisory Services LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 36.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 670 shares of the asset manager’s stock after selling 391 shares during the period. Insigneo Advisory Services LLC’s holdings in BlackRock were worth $687,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Fidelity D & D Bancorp Inc. grew its holdings in shares of BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after buying an additional 10 shares in the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of BlackRock by 8.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after acquiring an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of BlackRock by 0.8% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock valued at $1,311,000 after acquiring an additional 10 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in BlackRock by 2.8% during the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after acquiring an additional 10 shares during the period. Finally, Marino Stram & Associates LLC lifted its holdings in shares of BlackRock by 0.3% during the 4th quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager’s stock worth $3,496,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In related news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the transaction, the director now directly owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 20,430 shares of company stock worth $21,234,629 in the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 2.5 %

BlackRock stock opened at $866.65 on Thursday. The firm has a 50 day simple moving average of $934.74 and a 200 day simple moving average of $986.36. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The firm has a market capitalization of $134.55 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.90 and a beta of 1.38.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the prior year, the business posted $9.81 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.40%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date was Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is presently 50.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BLK. UBS Group dropped 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 report on Friday, April 11th. Citigroup decreased their price target 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. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Barclays raised their target price on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, StockNews.com began coverage on BlackRock in a research note on Monday. They issued a “hold” rating for the company. 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 an average target price of $1,077.08.

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.