Rhumbline Advisers Trims Holdings in BlackRock $BLK

Rhumbline Advisers decreased its stake in shares of BlackRock (NYSE:BLK) by 1.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 251,120 shares of the asset manager’s stock after selling 3,161 shares during the period. Rhumbline Advisers’ holdings in BlackRock were worth $263,488,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BLK. Garde Capital Inc. lifted its holdings in shares of 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 buying an additional 18 shares in the last quarter. Traub Capital Management LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $28,000. Whipplewood Advisors LLC lifted its stake in BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after purchasing an additional 15 shares in the last quarter. Game Plan Financial Advisors LLC boosted its holdings in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the period. Finally, Creekmur Asset Management LLC grew its position in shares of BlackRock by 87.5% during the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 14 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,013.85 on Friday. The firm has a market capitalization of $157.30 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The business’s 50-day moving average price is $1,117.22 and its 200-day moving average price is $1,077.23.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the previous year, the firm earned $11.46 EPS. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. Sell-side analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.1%. BlackRock’s dividend payout ratio is 53.59%.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. upped their target price on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Barclays lifted their price target on BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Loop Capital set a $1,255.00 target price on shares of BlackRock in a research note on Tuesday, October 21st. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $1,302.53.

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.