BlackRock, Inc. (BLK) Shares Sold by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 24.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,980 shares of the asset manager’s stock after selling 4,157 shares during the period. Baltimore Washington Financial Advisors Inc.’s holdings in BlackRock were worth $5,099,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Exchange Capital Management Inc. boosted its stake in BlackRock by 3.0% during the 3rd quarter. Exchange Capital Management Inc. now owns 12,588 shares of the asset manager’s stock valued at $5,933,000 after purchasing an additional 367 shares during the last quarter. Bristlecone Advisors LLC boosted its stake in shares of BlackRock by 51.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 6,667 shares of the asset manager’s stock worth $3,142,000 after buying an additional 2,260 shares during the last quarter. New Potomac Partners LLC boosted its stake in shares of BlackRock by 4.4% in the 3rd quarter. New Potomac Partners LLC now owns 5,332 shares of the asset manager’s stock worth $2,513,000 after buying an additional 225 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of BlackRock by 8.4% in the 3rd quarter. First Trust Advisors LP now owns 142,435 shares of the asset manager’s stock worth $67,134,000 after buying an additional 11,002 shares during the last quarter. Finally, Cibc Bank USA boosted its stake in shares of BlackRock by 8.8% in the 3rd quarter. Cibc Bank USA now owns 1,454 shares of the asset manager’s stock worth $686,000 after buying an additional 117 shares during the last quarter. 82.34% of the stock is owned by institutional investors and hedge funds.

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NYSE:BLK opened at $415.08 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 capitalization of $64.29 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.55 and a beta of 1.43. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $578.80.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing analysts’ consensus estimates of $6.35 by ($0.27). The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.47 billion. BlackRock had a return on equity of 13.53% and a net margin of 30.32%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm posted $6.24 EPS. As a group, sell-side analysts expect that BlackRock, Inc. will post 25.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Tuesday, March 5th. This is a boost from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s payout ratio is 46.49%.

In related news, Chairman Laurence Fink sold 30,832 shares of BlackRock stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $418.32, for a total value of $12,897,642.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Gary Shedlin sold 1,000 shares of BlackRock stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $410.00, for a total transaction of $410,000.00. The disclosure for this sale can be found here. Insiders sold a total of 72,631 shares of company stock worth $30,293,463 in the last ninety days. 1.75% of the stock is currently owned by insiders.

A number of brokerages have recently weighed in on BLK. Zacks Investment Research downgraded BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $472.00 target price on shares of BlackRock in a research note on Wednesday, January 9th. Wells Fargo & Co restated a “hold” rating and issued a $425.00 target price (up previously from $410.00) on shares of BlackRock in a research note on Wednesday, January 16th. Barclays restated a “buy” rating on shares of BlackRock in a research note on Thursday, January 10th. Finally, Argus restated a “buy” rating on shares of BlackRock in a research note on Thursday, January 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. BlackRock currently has an average rating of “Buy” and an average target price of $501.03.

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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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