Knightsbridge Asset Management LLC Sells 49 Shares of BlackRock, Inc. (NYSE:BLK)

Knightsbridge Asset Management LLC lessened its stake in BlackRock, Inc. (NYSE:BLKFree Report) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 425 shares of the asset manager’s stock after selling 49 shares during the period. Knightsbridge Asset Management LLC’s holdings in BlackRock were worth $280,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BLK. OLD Point Trust & Financial Services N A acquired a new stake in BlackRock during the 2nd quarter worth $26,000. West Tower Group LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $27,000. Archer Investment Corp acquired a new position in shares of BlackRock in the 2nd quarter valued at $29,000. WFA of San Diego LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $33,000. Finally, Tyler Stone Wealth Management acquired a new position in shares of BlackRock in the 2nd quarter valued at $33,000. Institutional investors own 77.01% of the company’s stock.

BlackRock Stock Performance

BlackRock stock traded up $19.64 during trading hours on Monday, hitting $834.47. The company had a trading volume of 856,731 shares, compared to its average volume of 610,905. The firm has a market cap of $124.29 billion, a PE ratio of 22.99, a PEG ratio of 1.80 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. BlackRock, Inc. has a one year low of $596.18 and a one year high of $841.96. The firm has a 50-day moving average of $796.30 and a 200 day moving average of $725.72.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, beating the consensus estimate of $8.84 by $0.82. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $8.93 EPS. On average, sell-side analysts expect that BlackRock, Inc. will post 39.63 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $5.00. BlackRock’s dividend payout ratio is presently 54.78%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. The Goldman Sachs Group upped their target price on shares of BlackRock from $719.00 to $793.00 and gave the stock a “buy” rating in a research note on Thursday, November 30th. BNP Paribas raised shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 target price for the company in a research note on Tuesday, December 12th. JPMorgan Chase & Co. lowered shares of BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price for the company. in a research note on Friday, December 15th. Finally, UBS Group upped their target price on shares of BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $785.73.

Get Our Latest Analysis on BlackRock

Insiders Place Their Bets

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the sale, the general counsel now owns 11,914 shares in the company, valued at approximately $3,366,142.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the transaction, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock worth $71,864,028 in the last quarter. Corporate insiders own 1.06% of the company’s stock.

BlackRock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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