BlackRock, Inc. (NYSE:BLK) Shares Purchased by Everhart Financial Group Inc.

Everhart Financial Group Inc. boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 329.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 846 shares of the asset manager’s stock after buying an additional 649 shares during the quarter. Everhart Financial Group Inc.’s holdings in BlackRock were worth $801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. IAG Wealth Partners LLC purchased a new stake in BlackRock in the 4th quarter worth $26,000. Investment Management Corp VA ADV purchased a new position in BlackRock during the fourth quarter valued at $30,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock in the fourth quarter valued at about $33,000. Synergy Investment Management LLC acquired a new position in shares of BlackRock during the 4th quarter worth about $40,000. Finally, Curio Wealth LLC acquired a new position in shares of BlackRock during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were 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 of the company’s stock, valued at approximately $56,261,628.34. The trade was a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.98% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $971.24 on Friday. 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 company has a 50-day moving average price of $937.84 and a 200 day moving average price of $972.04. BlackRock, Inc. has a 12-month low of $759.99 and a 12-month high of $1,084.22. The stock has a market cap of $150.47 billion, a P/E ratio of 23.12, a PEG ratio of 1.90 and a beta of 1.41.

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

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.15%. BlackRock’s dividend payout ratio is currently 50.63%.

Wall Street Analyst Weigh In

BLK has been the subject of several research reports. Wall Street Zen upgraded BlackRock to a “hold” rating in a research note on Saturday, May 24th. Wells Fargo & Company boosted their price target on BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Citigroup reduced their price objective on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, TD Cowen dropped their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,082.46.

About BlackRock

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.