Jmac Enterprises LLC acquired a new position in shares of BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,130 shares of the asset manager's stock, valued at approximately $1,070,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at about $26,000. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock in the 4th quarter valued at about $30,000. Synergy Investment Management LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at about $40,000. Curio Wealth LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at about $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.
BlackRock Trading Down 0.5%
BlackRock stock opened at $974.60 on Monday. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The stock has a market capitalization of $150.99 billion, a P/E ratio of 23.68, a PEG ratio of 2.96 and a beta of 1.41. The stock has a 50-day simple moving average of $948.55 and a 200 day simple moving average of $969.40.
BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. BlackRock's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $9.81 earnings per share. Analysts expect that BlackRock will post 47.41 earnings per share for the current year.
BlackRock Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.14%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Morgan Stanley dropped their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Bank of America decreased 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. Argus raised their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Barclays raised their price objective on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Finally, TD Cowen decreased their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,096.31.
Check Out Our Latest Research Report on BlackRock
Insiders Place Their Bets
In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.98% of the company's stock.
BlackRock Company Profile
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Free Report)
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.
Further Reading
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