Triangle Securities Wealth Management Lowers Position in BlackRock, Inc. (BLK)
Triangle Securities Wealth Management trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 15.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 595 shares of the asset manager’s stock after selling 111 shares during the period. Triangle Securities Wealth Management’s holdings in BlackRock were worth $254,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Atalanta Sosnoff Capital LLC acquired a new stake in BlackRock during the first quarter valued at approximately $445,000. We Are One Seven LLC boosted its holdings in BlackRock by 44.0% during the first quarter. We Are One Seven LLC now owns 733 shares of the asset manager’s stock valued at $313,000 after purchasing an additional 224 shares in the last quarter. Heritage Investors Management Corp boosted its holdings in BlackRock by 0.5% during the first quarter. Heritage Investors Management Corp now owns 32,683 shares of the asset manager’s stock valued at $13,968,000 after purchasing an additional 163 shares in the last quarter. Windsor Group LTD boosted its holdings in BlackRock by 7.6% during the first quarter. Windsor Group LTD now owns 1,563 shares of the asset manager’s stock valued at $668,000 after purchasing an additional 110 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in BlackRock by 86.7% during the first quarter. State of Alaska Department of Revenue now owns 32,281 shares of the asset manager’s stock valued at $13,794,000 after purchasing an additional 14,988 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.
In other news, COO Robert L. Goldstein sold 5,133 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $443.00, for a total transaction of $2,273,919.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Laurence Fink sold 44,000 shares of the stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $412.75, for a total transaction of $18,161,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,650 shares of company stock valued at $57,774,089. 1.75% of the stock is owned by corporate insiders.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing the Zacks’ consensus estimate of $6.35 by ($0.27). BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $6.24 EPS. BlackRock’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 26.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a $3.30 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.98%. This is a boost from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s dividend payout ratio is currently 49.02%.
A number of equities research analysts have weighed in on BLK shares. Zacks Investment Research reaffirmed a “sell” rating on shares of BlackRock in a report on Monday, December 31st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $472.00 target price on shares of BlackRock in a report on Wednesday, January 9th. Deutsche Bank downgraded BlackRock from a “buy” rating to a “hold” rating and reduced their target price for the stock from $444.00 to $405.00 in a report on Thursday, January 10th. Jefferies Financial Group reissued a “hold” rating and issued a $427.00 target price on shares of BlackRock in a report on Wednesday, January 9th. Finally, Morgan Stanley reduced their target price on BlackRock from $514.00 to $489.00 and set an “overweight” rating on the stock in a report on Friday, January 4th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $497.95.
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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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