Fairway Wealth LLC Acquires 13 Shares of BlackRock (NYSE:BLK)

Fairway Wealth LLC raised its holdings in BlackRock (NYSE:BLK) by 76.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30 shares of the asset manager’s stock after buying an additional 13 shares during the quarter. Fairway Wealth LLC’s holdings in BlackRock were worth $28,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mascoma Wealth Management LLC raised its stake in BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager’s stock valued at $130,000 after buying an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager’s stock worth $542,000 after purchasing an additional 11 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock worth $263,000 after purchasing an additional 11 shares in the last quarter. Detalus Advisors LLC increased its holdings in shares of BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager’s stock worth $387,000 after purchasing an additional 11 shares in the last quarter. Finally, Truvestments Capital LLC grew its holdings in shares of BlackRock by 10.8% in the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager’s stock worth $126,000 after acquiring an additional 12 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BLK shares. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Wall Street Zen raised BlackRock to a “hold” rating in a report on Saturday, May 24th. Citigroup lowered their price objective 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. Barclays boosted their price objective on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. 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 research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,110.92.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company’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 sale, the director directly owned 66,034 shares in the company, valued at $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.98% of the stock is currently owned by company insiders.

BlackRock Trading Up 0.5%

Shares of BLK stock opened at $1,076.28 on Monday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The stock’s 50 day simple moving average is $979.68 and its two-hundred day simple moving average is $968.96. The company has a market cap of $166.75 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 3.26 and a beta of 1.41.

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, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the business posted $9.81 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.94%. 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.