BlackRock, Inc. (BLK) Shares Sold by Pictet North America Advisors SA

Pictet North America Advisors SA decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 817 shares of the asset manager’s stock after selling 67 shares during the quarter. Pictet North America Advisors SA’s holdings in BlackRock were worth $345,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BLK. BlackRock Inc. lifted its holdings in BlackRock by 2,775.4% during the 1st quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in BlackRock by 38,807.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after buying an additional 1,199,932 shares in the last quarter. UBS Group AG lifted its holdings in BlackRock by 40.2% during the 1st quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after buying an additional 486,502 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in BlackRock by 207.1% during the 2nd quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock worth $222,771,000 after buying an additional 355,630 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in BlackRock by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after buying an additional 250,431 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research firms have recently weighed in on BLK. Morgan Stanley reissued an “overweight” rating and issued a $460.00 price target (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Deutsche Bank AG reissued a “buy” rating and issued a $455.00 price target (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $449.08.

Shares of BlackRock, Inc. (BLK) opened at 429.44 on Tuesday. The company’s 50-day moving average price is $422.28 and its 200 day moving average price is $406.57. The firm has a market cap of $69.66 billion, a P/E ratio of 20.61 and a beta of 1.71. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.39 by ($0.15). The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $4.78 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post $21.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.33%. BlackRock’s dividend payout ratio (DPR) is 47.98%.

In related news, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff A. Smith sold 522 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total transaction of $220,033.44. The disclosure for this sale can be found here. Insiders have sold 4,447 shares of company stock valued at $1,855,015 over the last 90 days. 1.86% of the stock is currently owned by company insiders.

About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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