BlackRock (NYSE:BLK) Shares Purchased by Albion Financial Group UT

Albion Financial Group UT raised its position in shares of BlackRock (NYSE:BLK) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,695 shares of the asset manager’s stock after buying an additional 340 shares during the quarter. Albion Financial Group UT’s holdings in BlackRock were worth $11,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IAG Wealth Partners LLC acquired a new stake in BlackRock during the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $30,000. Synergy Investment Management LLC acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $40,000. Curio Wealth LLC acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Cowen dropped their price target on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company increased 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 dropped their price target on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Argus increased their price target on BlackRock from $1,028.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Finally, UBS Group decreased their price objective 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. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,102.08.

BlackRock Stock Performance

Shares of BLK stock opened at $1,049.35 on Monday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,084.22. The firm has a market capitalization of $162.58 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The business has a 50 day simple moving average of $962.39 and a 200 day simple moving average of $968.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same period last year, the firm earned $9.81 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.63%.

Insider Activity

In other news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction on 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by insiders.

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.