BlackRock (NYSE:BLK) Stake Raised by Highview Capital Management LLC DE

Highview Capital Management LLC DE increased its holdings in BlackRock (NYSE:BLK) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,863 shares of the asset manager’s stock after acquiring an additional 83 shares during the period. Highview Capital Management LLC DE’s holdings in BlackRock were worth $1,763,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Gilliland Jeter Wealth Management LLC purchased a new stake in BlackRock in the 1st quarter worth about $408,000. Centennial Bank AR purchased a new stake in shares of BlackRock during the 1st quarter worth about $127,000. Fairway Wealth LLC raised its stake in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of BlackRock by 98.9% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,804 shares of the asset manager’s stock worth $1,707,000 after purchasing an additional 897 shares in the last quarter. Finally, Callan Capital LLC raised its stake in shares of BlackRock by 13.2% during the 1st quarter. Callan Capital LLC now owns 479 shares of the asset manager’s stock worth $453,000 after purchasing an additional 56 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other 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 sale, the director owned 66,034 shares of the company’s stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BLK. UBS Group cut their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group raised their price target on BlackRock from $994.00 to $1,115.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Citigroup cut their price target 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. TD Cowen cut their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their price objective 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,110.92.

BlackRock Stock Performance

BLK opened at $1,076.55 on Tuesday. The firm has a market capitalization of $166.79 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 3.26 and a beta of 1.41. The stock’s 50 day moving average price is $982.91 and its two-hundred day moving average price is $969.29. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,086.84.

BlackRock (NYSE:BLK) last released its earnings results 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 analyst estimates of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $9.81 EPS. On average, equities analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock’s payout ratio is presently 50.63%.

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.