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BlackRock, Inc. (NYSE:BLK) Shares Sold by Coastal Investment Advisors Inc.

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Date: 2022-06-25 14:59:40

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BlackRock logoCoastal Investment Advisors Inc. lowered its position in BlackRock, Inc. (NYSE:BLKGet Rating) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 698 shares of the asset manager’s stock after selling 42 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in BlackRock were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Steward Financial Group LLC acquired a new position in shares of BlackRock during the fourth quarter worth about $27,000. Western Pacific Wealth Management LP acquired a new position in shares of BlackRock during the fourth quarter worth about $27,000. Sierra Capital LLC acquired a new position in shares of BlackRock during the fourth quarter worth about $29,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of BlackRock during the fourth quarter worth about $29,000. Finally, Disciplined Investments LLC purchased a new stake in shares of BlackRock during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.

BLK has been the subject of a number of research analyst reports. StockNews.com began coverage on BlackRock in a research report on Thursday, March 31st. They issued a “hold” rating for the company. The Goldman Sachs Group dropped their price target on shares of BlackRock from $1,000.00 to $800.00 and set a “buy” rating on the stock in a research note on Monday, March 14th. BNP Paribas downgraded shares of BlackRock from an “outperform” rating to a “neutral” rating and set a $725.00 price target on the stock. in a research note on Tuesday, March 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of BlackRock from $905.00 to $747.00 in a research note on Thursday, May 19th. Finally, Exane BNP Paribas downgraded shares of BlackRock from an “outperform” rating to a “neutral” rating and set a $725.00 price target on the stock. in a research note on Tuesday, March 8th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $873.86.

Shares of BLK stock opened at $647.78 on Friday. BlackRock, Inc. has a 52-week low of $575.60 and a 52-week high of $973.16. The stock has a market cap of $98.14 billion, a PE ratio of 16.28, a PEG ratio of 2.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.33 and a current ratio of 4.33. The firm’s 50 day moving average price is $634.62 and its two-hundred day moving average price is $743.51.

BlackRock (NYSE:BLKGet Rating) last announced its quarterly earnings data on Wednesday, April 13th. The asset manager reported $9.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.92 by $0.60. BlackRock had a net margin of 31.20% and a return on equity of 17.00%. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the firm earned $7.77 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock, Inc. will post 38.35 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Monday, June 6th were given a dividend of $4.88 per share. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $19.52 dividend on an annualized basis and a dividend yield of 3.01%. BlackRock’s dividend payout ratio is 49.06%.

In related news, Director William E. Ford bought 2,000 shares of BlackRock stock in a transaction that occurred on Monday, April 18th. The stock was acquired at an average price of $681.44 per share, with a total value of $1,362,880.00. Following the acquisition, the director now owns 14,915 shares of the company’s stock, valued at approximately $10,163,677.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William E. Ford bought 1,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 14th. The shares were bought at an average cost of $701.00 per share, with a total value of $701,000.00. Following the acquisition, the director now directly owns 12,915 shares in the company, valued at approximately $9,053,415. The disclosure for this purchase can be found here. Company insiders own 1.06% of the company’s stock.

BlackRock Profile (Get Rating)

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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Original Source: https://www.etfdailynews.com/2022/06/25/blackrock-inc-nyseblk-shares-sold-by-coastal-investment-advisors-inc/