Andra AP fonden sells 1,400 shares of BlackRock, Inc. (NYSE:BLK)

Andra AP fonden reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 24.6% during the second quarter, Holdings Channel.com reports. The firm owned 4,300 shares of the asset manager’s stock after selling 1,400 shares during the period. Andra AP fonden’s holdings in BlackRock were worth $3,385,000 as of its most recent SEC filing.

Other large investors have recently modified their positions in the company. Vanguard Group Inc. raised its stake in BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the period. Capital Research Global Investors grew its position in BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the period. Capital World Investors raised its stake in BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after buying an additional 1,279 shares. 952 shares in the last quarter. Capital International Investors boosted its stake in BlackRock by 2.4% in the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after buying an additional 58,681 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of BlackRock during the fourth quarter valued at about $1,812,920,000. 80.69% of the shares are currently held by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

BLK has been the subject of several recent research reports. Morgan Stanley decreased their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Keefe, Bruyette & Woods upped their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Argus boosted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $883.47, based on data from MarketBeat.com.

Get the latest report on BLK

BlackRock stock fell 0.8%

BLK stock opened at $877.12 on Thursday. BlackRock, Inc. it has a fifty-two week low of $596.18 and a fifty-two week high of $903.46. The stock has a fifty-day moving average of $854.14 and a 200-day moving average of $813.31. The company has a market cap of $130.34 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06, and a current ratio of 5.06.

BlackRock (NYSE:BLK – Get Your Free Report ) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s revenue increased by 7.7% year-on-year. In the same quarter last year, the company earned $9.28 per share. As a group, equities research analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9. This represents an annualized dividend of $20.40 and a dividend yield of 2.33%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider trading at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In other news, 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 transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock worth $79,387,117 over the last three months. Company insiders own 0.90% of the company’s shares.

About BlackRock

(Free Report)

BlackRock, Inc is a public equity investment manager. The firm primarily serves 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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