BlackRock, Inc. (NYSE:BLK) Shares Purchased by CX Institutional

CX Institutional raised its position in BlackRock, Inc. (NYSE:BLK) by 6.6% during the first quarter, HoldingsChannel.com reports. The firm owned 471 shares of the asset manager’s stock after buying an additional 29 shares during the quarter. CX Institutional’s holdings in BlackRock were worth $446,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in BlackRock by 26.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 409,042 shares of the asset manager’s stock worth $387,150,000 after purchasing an additional 86,480 shares during the last quarter. Kozak & Associates Inc. boosted its position in BlackRock by 2.6% during the 1st quarter. Kozak & Associates Inc. now owns 633 shares of the asset manager’s stock worth $563,000 after acquiring an additional 16 shares during the period. MV Capital Management Inc. boosted its position in BlackRock by 123.7% during the 1st quarter. MV Capital Management Inc. now owns 293 shares of the asset manager’s stock worth $277,000 after acquiring an additional 162 shares during the period. Ibex Wealth Advisors boosted its position in BlackRock by 4.3% during the 1st quarter. Ibex Wealth Advisors now owns 5,084 shares of the asset manager’s stock worth $4,812,000 after acquiring an additional 208 shares during the period. Finally, Accurate Wealth Management LLC boosted its position in BlackRock by 15.1% during the 1st quarter. Accurate Wealth Management LLC now owns 1,212 shares of the asset manager’s stock worth $1,064,000 after acquiring an additional 159 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BLK shares. Wall Street Zen raised BlackRock to a “hold” rating in a report on Saturday, May 24th. TD Cowen reduced their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Morgan Stanley reduced their target price on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. dropped 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. Finally, Bank of America dropped their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,082.46.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director now owns 66,034 shares of the company’s stock, valued at $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of NYSE BLK opened at $971.24 on Friday. The business’s 50-day simple moving average is $937.84 and its 200-day simple moving average is $972.04. BlackRock, Inc. has a 52 week low of $759.99 and a 52 week high of $1,084.22. The firm has a market cap of $150.47 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

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

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. BlackRock’s dividend payout ratio (DPR) 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.