Fidelis Capital Partners LLC Lowers Position in BlackRock, Inc. (NYSE:BLK)

Fidelis Capital Partners LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 16.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,248 shares of the asset manager’s stock after selling 446 shares during the period. Fidelis Capital Partners LLC’s holdings in BlackRock were worth $1,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC boosted its stake in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after acquiring an additional 40 shares in the last quarter. California State Teachers Retirement System grew its holdings in BlackRock by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock valued at $192,997,000 after purchasing an additional 1,647 shares during the period. Axxcess Wealth Management LLC increased its position in shares of BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after buying an additional 1,248 shares in the last quarter. Morningstar Investment Services LLC raised its stake in shares of BlackRock by 97.1% during the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock worth $93,151,000 after buying an additional 56,357 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of BlackRock by 3.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after buying an additional 14,477 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BLK shares. Morgan Stanley cut their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Argus upped their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. UBS Group cut their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, TD Cowen decreased their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $902.13.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 over the last 90 days. 0.90% of the stock is owned by company insiders.

BlackRock Stock Performance

BlackRock stock opened at $928.79 on Friday. The stock has a market cap of $138.02 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a 50 day simple moving average of $868.55 and a 200-day simple moving average of $817.89. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $942.73.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the firm earned $9.28 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts expect that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.20%. BlackRock’s 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.