BlackRock, Inc. (BLK) Holdings Decreased by Marvin & Palmer Associates Inc.

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Marvin & Palmer Associates Inc. decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,355 shares of the asset manager’s stock after selling 1,110 shares during the quarter. BlackRock comprises about 5.6% of Marvin & Palmer Associates Inc.’s portfolio, making the stock its 4th biggest holding. Marvin & Palmer Associates Inc.’s holdings in BlackRock were worth $5,667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of BLK. BlackRock Inc. increased its holdings in shares of BlackRock by 2.6% during the 1st quarter. BlackRock Inc. now owns 7,447,936 shares of the asset manager’s stock worth $4,034,698,000 after acquiring an additional 192,139 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of BlackRock by 53,902.3% during the 1st quarter. Summit Trail Advisors LLC now owns 1,274,454 shares of the asset manager’s stock worth $1,274,000 after acquiring an additional 1,272,094 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of BlackRock by 2.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock worth $237,562,000 after acquiring an additional 12,785 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of BlackRock by 6.9% during the 1st quarter. Royal Bank of Canada now owns 452,599 shares of the asset manager’s stock worth $245,183,000 after acquiring an additional 29,222 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of BlackRock by 1.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 448,835 shares of the asset manager’s stock worth $243,142,000 after acquiring an additional 6,507 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the company. Deutsche Bank decreased their target price on BlackRock from $570.00 to $561.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Zacks Investment Research lowered BlackRock from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Barclays decreased their target price on BlackRock from $615.00 to $595.00 and set an “overweight” rating on the stock in a report on Tuesday, July 17th. Goldman Sachs Group decreased their target price on BlackRock to $570.00 and set a “buy” rating on the stock in a report on Tuesday, July 17th. Finally, Keefe, Bruyette & Woods raised BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 target price on the stock in a report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $594.25.

In related news, Chairman Laurence Fink sold 19,800 shares of the business’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total value of $10,051,866.00. Following the completion of the sale, the chairman now directly owns 1,098,328 shares in the company, valued at approximately $557,588,175.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William E. Ford purchased 1,000 shares of BlackRock stock in a transaction that occurred on Wednesday, July 18th. The stock was purchased at an average price of $507.98 per share, with a total value of $507,980.00. Following the completion of the purchase, the director now directly owns 4,400 shares in the company, valued at $2,235,112. The disclosure for this purchase can be found here. Insiders own 1.75% of the company’s stock.

BLK opened at $475.56 on Tuesday. The firm has a market capitalization of $75.67 billion, a P/E ratio of 21.04, a PEG ratio of 1.47 and a beta of 1.61. BlackRock, Inc. has a 1 year low of $408.62 and a 1 year high of $594.52. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.55 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. BlackRock had a return on equity of 13.20% and a net margin of 38.97%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.24 EPS. research analysts expect that BlackRock, Inc. will post 27.68 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 24th. Investors of record on Friday, September 7th will be paid a $3.13 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This is an increase from BlackRock’s previous quarterly dividend of $2.88. This represents a $12.52 annualized dividend and a yield of 2.63%. BlackRock’s payout ratio is 50.97%.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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