Orion Capital Management LLC Sells 30 Shares of BlackRock, Inc. (NYSE:BLK)

Orion Capital Management LLC lessened its position in BlackRock, Inc. (NYSE:BLK) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,064 shares of the asset manager’s stock after selling 30 shares during the period. Orion Capital Management LLC’s holdings in BlackRock were worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BLK. Amalgamated Bank increased its holdings in BlackRock by 1.7% during the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock valued at $29,432,000 after purchasing an additional 489 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of BlackRock by 4.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock worth $12,793,000 after buying an additional 578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock valued at $67,038,000 after buying an additional 4,210 shares during the period. E. Ohman J or Asset Management AB bought a new position in shares of BlackRock during the fourth quarter valued at approximately $46,284,000. Finally, Blue Square Asset Management LLC bought a new position in shares of BlackRock during the fourth quarter valued at approximately $3,243,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. StockNews.com initiated coverage on shares of BlackRock in a research report on Friday, May 16th. They set a “hold” rating on the stock. Morgan Stanley decreased their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, UBS Group reduced their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,077.08.

BlackRock Stock Performance

Shares of BLK opened at $998.24 on Wednesday. BlackRock, Inc. has a 12 month low of $752.30 and a 12 month high of $1,084.22. The business’s fifty day simple moving average is $919.68 and its two-hundred day simple moving average is $978.24. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market cap of $154.65 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last released its 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. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $9.81 earnings per share. Research analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s payout ratio is 50.63%.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the sale, the director now directly owns 3,720 shares of the company’s stock, valued at $3,531,656.40. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 12,430 shares of company stock valued at $11,237,249 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Company 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.