JB Capital LLC Sells 3,641 Shares of BlackRock $BLK

JB Capital LLC reduced its position in BlackRock (NYSE:BLK) by 44.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,556 shares of the asset manager’s stock after selling 3,641 shares during the quarter. JB Capital LLC’s holdings in BlackRock were worth $5,312,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Pacifica Partners Inc. lifted its stake in shares of BlackRock by 450.0% during the 3rd quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock worth $25,000 after acquiring an additional 18 shares during the last quarter. Garde Capital Inc. increased its stake in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares during the period. Traub Capital Management LLC bought a new stake in shares of BlackRock during the second quarter worth $28,000. Whipplewood Advisors LLC boosted its stake in shares of BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares during the period. Finally, Game Plan Financial Advisors LLC grew its holdings in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK stock opened at $1,082.95 on Wednesday. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The firm has a market cap of $168.02 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.72 and a beta of 1.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.33 and a current ratio of 3.33. The firm has a 50-day simple moving average of $1,071.45 and a two-hundred day simple moving average of $1,097.15.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter last year, the firm earned $11.46 EPS. The company’s revenue was up 25.2% compared to the same quarter last year. On average, equities analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Friday, December 5th were paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, December 5th. BlackRock’s payout ratio is 53.59%.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin Small sold 1,258 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total value of $1,312,572.04. Following the sale, the chief financial officer owned 6,209 shares in the company, valued at $6,478,346.42. The trade was a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BLK. TD Cowen raised their target price on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. BMO Capital Markets raised their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,390.00 to $1,322.00 and set an “outperform” rating for the company in a report on Tuesday, December 16th. The Goldman Sachs Group restated a “buy” rating and set a $1,313.00 price target on shares of BlackRock in a research note on Tuesday, December 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of BlackRock from $1,305.00 to $1,298.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,316.18.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.