Chartwell Investment Partners LLC Lowers Stake in BlackRock, Inc. (BLK)

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Chartwell Investment Partners LLC cut its holdings in BlackRock, Inc. (NYSE:BLK) by 45.9% during the 4th quarter, Holdings Channel reports. The firm owned 10,556 shares of the asset manager’s stock after selling 8,939 shares during the period. Chartwell Investment Partners LLC’s holdings in BlackRock were worth $4,147,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Private Ocean LLC boosted its position in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after acquiring an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $33,000. Legacy Financial Advisors Inc. boosted its position in BlackRock by 125.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock worth $35,000 after acquiring an additional 49 shares during the last quarter. Highwater Wealth Management LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $41,000. Finally, Clean Yield Group acquired a new stake in BlackRock during the fourth quarter worth approximately $59,000. Institutional investors and hedge funds own 82.17% of the company’s stock.

In other news, insider Mark Mccombe sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $417.04, for a total value of $1,251,120.00. Following the transaction, the insider now owns 30,543 shares of the company’s stock, valued at approximately $12,737,652.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider J. Richard Kushel sold 3,077 shares of the firm’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $409.29, for a total transaction of $1,259,385.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,929 shares of company stock worth $36,214,650. 1.75% of the stock is currently owned by insiders.

NYSE:BLK opened at $411.76 on Friday. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.76. The company has a market cap of $65.45 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $578.80.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 16th. The asset manager reported $6.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.35 by ($0.27). The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.47 billion. BlackRock had a return on equity of 13.53% and a net margin of 30.32%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $6.24 EPS. On average, equities analysts predict that BlackRock, Inc. will post 25.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $13.20 dividend on an annualized basis and a yield of 3.21%. This is an increase from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s dividend payout ratio (DPR) is currently 46.49%.

BLK has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of BlackRock from $500.00 to $450.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Bank of America restated a “buy” rating and set a $478.00 target price (down previously from $525.00) on shares of BlackRock in a research report on Thursday, December 6th. Deutsche Bank cut their price target on shares of BlackRock from $458.00 to $444.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Argus cut their price target on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, October 17th. Finally, Goldman Sachs Group downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $503.03.

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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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