Duff & Phelps Investment Management Co. Has $252,000 Position in BlackRock, Inc. (NYSE:BLK)

Duff & Phelps Investment Management Co. reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 80.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 320 shares of the asset manager’s stock after selling 1,292 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in BlackRock were worth $252,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the first quarter worth approximately $27,000. Pineridge Advisors LLC acquired a new stake in BlackRock in the fourth quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new stake in BlackRock in the second quarter valued at approximately $31,000. Lam Group Inc. acquired a new stake in BlackRock in the first quarter valued at approximately $33,000. Finally, Fairman Group LLC acquired a new stake in BlackRock in the fourth quarter valued at approximately $35,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 0.0 %

BLK opened at $945.21 on Monday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $952.75. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $140.46 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 2.05 and a beta of 1.30. The business has a 50 day moving average of $879.35 and a 200-day moving average of $821.74.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $9.28 earnings per share. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.16%. BlackRock’s payout ratio is 51.84%.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of the company’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 completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was 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. Over the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley cut their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Wells Fargo & Company began coverage on BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective on the stock. TD Cowen decreased their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Citigroup upped their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $902.13.

About BlackRock

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.