Dover Advisors LLC Grows Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Dover Advisors LLC increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,213 shares of the asset manager’s stock after buying an additional 14 shares during the quarter. Dover Advisors LLC’s holdings in BlackRock were worth $1,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLK. GAMMA Investing LLC grew its holdings in shares of 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 during the last quarter. Norges Bank purchased a new stake in BlackRock in the 4th quarter valued at approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in BlackRock by 401.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager’s stock valued at $1,122,743,000 after purchasing an additional 876,836 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in BlackRock by 138,682.5% in the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock valued at $634,000 after purchasing an additional 633,779 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in BlackRock in the 4th quarter valued at approximately $572,730,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BLK 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. BlackRock, Inc. has a 12-month low of $759.99 and a 12-month high of $1,084.22. The company has a market cap of $150.47 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.90 and a beta of 1.41. The firm has a 50 day moving average of $937.84 and a 200-day moving average of $972.04.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the firm posted $9.81 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. BlackRock’s dividend payout ratio is currently 50.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLK. JPMorgan Chase & Co. lowered their price objective on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley lowered their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. 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 report on Thursday, April 3rd. Wells Fargo & Company lifted their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Finally, TD Cowen lowered their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,082.46.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.

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.