FDx Advisors Inc. Decreases Stock Position in BlackRock, Inc. (NYSE:BLK)

FDx Advisors Inc. decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 89.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287 shares of the asset manager’s stock after selling 2,567 shares during the period. FDx Advisors Inc.’s holdings in BlackRock were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BLK. Catalina Capital Group LLC raised its stake in shares of BlackRock by 77.9% during the first quarter. Catalina Capital Group LLC now owns 911 shares of the asset manager’s stock valued at $759,000 after acquiring an additional 399 shares in the last quarter. Avidian Wealth Solutions LLC raised its position in shares of BlackRock by 6.2% in the first quarter. Avidian Wealth Solutions LLC now owns 842 shares of the asset manager’s stock worth $702,000 after acquiring an additional 49 shares during the period. Southern Capital Advisors LLC increased its stake in shares of BlackRock by 1.1% during the first quarter. Southern Capital Advisors LLC now owns 1,538 shares of the asset manager’s stock worth $1,282,000 after purchasing an additional 17 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in BlackRock during the 1st quarter valued at about $30,848,000. Finally, Larson Financial Group LLC grew its stake in shares of BlackRock by 161.0% in the 1st quarter. Larson Financial Group LLC now owns 381 shares of the asset manager’s stock valued at $318,000 after buying an additional 235 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,151,600. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley reduced their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday. TD Cowen cut their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $915.00 target price on shares of BlackRock in a research report on Tuesday, July 2nd. Finally, UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $844.67.

BlackRock Trading Up 1.6 %

NYSE BLK opened at $825.26 on Friday. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The stock has a 50 day moving average of $786.04 and a 200-day moving average of $792.91. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market cap of $122.63 billion, a PE ratio of 20.97, a PEG ratio of 1.68 and a beta of 1.32.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the firm posted $7.93 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.27 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were given a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.47%. BlackRock’s dividend payout ratio is currently 51.84%.

BlackRock 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.