Fosun International Ltd decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 17.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,227 shares of the asset manager’s stock after selling 1,105 shares during the period. Fosun International Ltd’s holdings in BlackRock were worth $2,380,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC acquired a new stake in shares of BlackRock during the 4th quarter worth $25,000. Hall Laurie J Trustee acquired a new stake in shares of BlackRock during the 4th quarter worth $25,000. Carmichael Hill & Associates Inc. acquired a new stake in shares of BlackRock during the 4th quarter worth $27,000. Engrave Wealth Partners LLC acquired a new stake in shares of BlackRock during the 4th quarter worth $30,000. Finally, Central Bank & Trust Co. acquired a new stake in shares of BlackRock during the 1st quarter worth $28,000. 81.50% of the stock is currently owned by institutional investors.
In other news, CFO Gary Shedlin sold 2,625 shares of BlackRock stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $508.16, for a total transaction of $1,333,920.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rachel Lord sold 3,000 shares of BlackRock stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $499.31, for a total value of $1,497,930.00. The disclosure for this sale can be found here. Insiders have sold 97,845 shares of company stock worth $46,894,663 over the last three months. Insiders own 1.42% of the company’s stock.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Thursday, April 16th. The asset manager reported $6.60 EPS for the quarter, beating the Zacks’ consensus estimate of $6.36 by $0.24. BlackRock had a return on equity of 13.62% and a net margin of 28.38%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the firm posted $6.61 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock, Inc. will post 25.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be paid a dividend of $3.63 per share. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.85%. BlackRock’s payout ratio is 50.98%.
BLK has been the topic of several analyst reports. Bank of America reduced their target price on BlackRock from $485.00 to $383.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. JPMorgan Chase & Co. reduced their price objective on BlackRock from $526.00 to $524.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Deutsche Bank raised their price objective on BlackRock from $487.00 to $488.00 and gave the company a “hold” rating in a research note on Friday, May 15th. ValuEngine raised BlackRock from a “sell” rating to a “hold” rating in a research note on Friday, March 13th. Finally, Morgan Stanley raised their price objective on BlackRock from $515.00 to $560.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $510.91.
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.
Further Reading: Dividend Achievers
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.