Virginia Wealth Management Group Inc. lifted its position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,944 shares of the asset manager’s stock after purchasing an additional 48 shares during the quarter. BlackRock accounts for 2.9% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 10th largest holding. Virginia Wealth Management Group Inc.’s holdings in BlackRock were worth $4,679,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock worth $13,712,493,000 after purchasing an additional 68,405 shares during the period. Capital World Investors grew its holdings in BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock worth $4,200,450,000 after buying an additional 93,844 shares in the last quarter. GAMMA Investing LLC grew its holdings in BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock worth $3,312,759,000 after buying an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC grew its holdings in BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock worth $3,072,787,000 after buying an additional 190,188 shares in the last quarter. Finally, FMR LLC grew its holdings in BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock worth $2,450,475,000 after buying an additional 26,485 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.
BlackRock Stock Performance
Shares of BLK opened at $992.46 on Wednesday. The company has a market cap of $153.76 billion, a PE ratio of 23.63, 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. The stock has a 50-day moving average price of $927.88 and a 200-day moving average price of $972.57. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22.
BlackRock Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.
Insiders Place Their Bets
In other news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the sale, the director now directly owns 66,034 shares in the company, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently issued reports on BLK. UBS Group decreased their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Bank of America decreased their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. reduced their price objective on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. TD Cowen reduced their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Barclays upped their price objective on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,082.46.
Read Our Latest Analysis on BLK
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.
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