Calamos Advisors LLC Has $28.98 Million Position in BlackRock (NYSE:BLK)

Calamos Advisors LLC lifted its stake in shares of BlackRock (NYSE:BLK) by 0.9% during the 1st quarter, HoldingsChannel reports. The firm owned 30,614 shares of the asset manager’s stock after acquiring an additional 283 shares during the period. Calamos Advisors LLC’s holdings in BlackRock were worth $28,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mascoma Wealth Management LLC raised its holdings in shares of BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager’s stock valued at $130,000 after acquiring an additional 11 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of BlackRock by 2.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager’s stock worth $542,000 after purchasing an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in BlackRock by 4.5% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 11 shares in the last quarter. Detalus Advisors LLC raised its stake in BlackRock by 2.8% in the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager’s stock valued at $387,000 after purchasing an additional 11 shares in the last quarter. Finally, Truvestments Capital LLC lifted its position in BlackRock by 10.8% during the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s 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 transaction, the director directly owned 66,034 shares of the company’s stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BLK. JPMorgan Chase & Co. reduced their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company upped their price objective on BlackRock from $1,105.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Thursday. Wall Street Zen raised BlackRock to a “hold” rating in a report on Saturday, May 24th. Citigroup dropped their target price on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley increased their price target on shares of BlackRock from $1,111.00 to $1,164.00 and gave the company an “overweight” rating in a research report on Wednesday. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,110.92.

BlackRock Stock Up 0.5%

Shares of NYSE BLK opened at $1,076.28 on Friday. The company has a market cap of $166.74 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 3.25 and a beta of 1.41. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average is $976.32 and its 200 day moving average is $969.46. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22.

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

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock’s payout ratio is 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.