United Services Automobile Association Sells 1,154 Shares of BlackRock, Inc. (NYSE:BLK)

United Services Automobile Association lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,827 shares of the asset manager’s stock after selling 1,154 shares during the period. United Services Automobile Association owned approximately 0.05% of BlackRock worth $32,532,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BLK. Credit Agricole S A raised its stake in BlackRock by 157.2% in the first quarter. Credit Agricole S A now owns 133,721 shares of the asset manager’s stock valued at $18,671,000 after buying an additional 81,734 shares during the last quarter. Jones Financial Companies Lllp raised its stake in BlackRock by 10.0% in the first quarter. Jones Financial Companies Lllp now owns 18,591 shares of the asset manager’s stock valued at $7,129,000 after buying an additional 1,693 shares during the last quarter. Rafferty Asset Management LLC raised its stake in BlackRock by 260.6% in the first quarter. Rafferty Asset Management LLC now owns 22,709 shares of the asset manager’s stock valued at $8,709,000 after buying an additional 16,411 shares during the last quarter. First Business Financial Services Inc. raised its stake in BlackRock by 9.9% in the first quarter. First Business Financial Services Inc. now owns 1,374 shares of the asset manager’s stock valued at $527,000 after buying an additional 124 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. purchased a new stake in BlackRock during the first quarter valued at approximately $263,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Shares of BlackRock, Inc. (BLK) traded up 0.12% during mid-day trading on Friday, hitting $426.51. The company’s stock had a trading volume of 412,611 shares. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.83. The stock has a 50-day moving average of $427.11 and a 200-day moving average of $397.31. The company has a market cap of $69.18 billion, a PE ratio of 20.47 and a beta of 1.71.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business earned $4.78 earnings per share. BlackRock’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that BlackRock, Inc. will post $21.84 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.34%. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.

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Several equities analysts have recently issued reports on BLK shares. Deutsche Bank AG restated a “buy” rating and set a $441.00 price objective (down previously from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Bank of America Corporation restated a “buy” rating and set a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley reiterated an “overweight” rating and issued a $460.00 price target (up previously from $422.00) on shares of BlackRock in a report on Monday, July 10th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a report on Tuesday, June 20th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. BlackRock has an average rating of “Buy” and a consensus price target of $434.93.

In other news, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the transaction, the director now directly owns 484,386 shares in the company, valued at $200,685,963.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,772 shares of company stock worth $1,567,516. Corporate insiders own 1.86% of the company’s stock.

BlackRock Company Profile

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.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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