Guinness Atkinson Asset Management Inc Sells 36 Shares of BlackRock, Inc. (NYSE:BLK)

by · The Markets Daily

Guinness Atkinson Asset Management Inc decreased its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,010 shares of the asset manager’s stock after selling 36 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in BlackRock were worth $959,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Guinness Asset Management LTD increased its position in shares of BlackRock by 4.5% during the 3rd quarter. Guinness Asset Management LTD now owns 250,484 shares of the asset manager’s stock valued at $237,780,000 after purchasing an additional 10,888 shares during the last quarter. Lion Street Advisors LLC raised its position in BlackRock by 34.3% in the third quarter. Lion Street Advisors LLC now owns 407 shares of the asset manager’s stock worth $386,000 after acquiring an additional 104 shares during the period. Valeo Financial Advisors LLC grew its position in shares of BlackRock by 7.4% during the 3rd quarter. Valeo Financial Advisors LLC now owns 3,467 shares of the asset manager’s stock valued at $3,292,000 after acquiring an additional 238 shares during the period. Wynn Capital LLC increased its stake in shares of BlackRock by 3.8% during the 3rd quarter. Wynn Capital LLC now owns 1,504 shares of the asset manager’s stock worth $1,428,000 after purchasing an additional 55 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of BlackRock by 376.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,105 shares of the asset manager’s stock worth $1,049,000 after purchasing an additional 873 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’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 in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Barclays lifted their price objective on shares of BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. increased their target price on BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company increased their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $972.23.

Check Out Our Latest Stock Report on BLK

BlackRock Price Performance

Shares of NYSE:BLK traded up $34.67 during trading on Friday, reaching $990.26. The company had a trading volume of 927,686 shares, compared to its average volume of 576,480. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $996.29. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $147.15 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a fifty day moving average of $899.39 and a two-hundred day moving average of $831.29.

BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the business posted $10.91 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts forecast that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.06%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

BlackRock Company Profile

(Free Report)

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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