Neville Rodie & Shaw Inc. Has $703,000 Stake in BlackRock, Inc. (NYSE:BLK)

Neville Rodie & Shaw Inc. lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 9.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 743 shares of the asset manager’s stock after selling 80 shares during the period. Neville Rodie & Shaw Inc.’s holdings in BlackRock were worth $703,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BLK. First Financial Bank Trust Division bought a new stake in shares of BlackRock in the 1st quarter worth approximately $1,694,000. Fire Capital Management LLC acquired a new position in shares of BlackRock in the fourth quarter valued at $1,016,000. Chancellor Financial Group WB LP bought a new position in BlackRock in the fourth quarter worth $325,000. Objective Capital Management LLC acquired a new stake in BlackRock during the fourth quarter worth $377,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in BlackRock by 4.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,309 shares of the asset manager’s stock valued at $34,145,000 after buying an additional 1,364 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the transaction, the director now owns 66,034 shares in the company, valued at $56,261,628.34. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Citigroup decreased their price objective on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Bank of America lowered their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. cut their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley lowered their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $1,077.08.

BlackRock Stock Up 0.5%

BLK opened at $975.76 on Friday. The stock’s fifty day simple moving average is $922.27 and its 200 day simple moving average is $975.86. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22. The stock has a market cap of $151.17 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $9.81 earnings per share. As a group, research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s dividend payout ratio is presently 50.63%.

BlackRock Profile

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.