Capital Investment Advisors LLC Acquires 50 Shares of BlackRock, Inc. (NYSE:BLK)

Capital Investment Advisors LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,506 shares of the asset manager’s stock after purchasing an additional 50 shares during the period. Capital Investment Advisors LLC’s holdings in BlackRock were worth $1,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hickory Point Bank & Trust raised its stake in BlackRock by 2.9% in the 1st quarter. Hickory Point Bank & Trust now owns 532 shares of the asset manager’s stock valued at $504,000 after acquiring an additional 15 shares during the period. PFW Advisors LLC increased its position in shares of BlackRock by 0.6% during the first quarter. PFW Advisors LLC now owns 2,518 shares of the asset manager’s stock valued at $2,383,000 after buying an additional 14 shares during the period. Bangor Savings Bank bought a new stake in shares of BlackRock during the first quarter valued at about $1,482,000. SOA Wealth Advisors LLC. increased its position in shares of BlackRock by 9,757.7% during the first quarter. SOA Wealth Advisors LLC. now owns 15,378 shares of the asset manager’s stock valued at $14,555,000 after buying an additional 15,222 shares during the period. Finally, Bank of New Hampshire bought a new stake in shares of BlackRock during the first quarter valued at about $439,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Barclays increased their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. TD Cowen cut their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup cut their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,082.46.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $988.81 on Tuesday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $153.19 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.90 and a beta of 1.41. The business has a fifty day simple moving average of $925.78 and a two-hundred day simple moving average of $972.43. BlackRock, Inc. has a 12 month low of $752.30 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the firm posted $9.81 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.11%. BlackRock’s payout ratio is presently 50.63%.

BlackRock Company 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.