180 Wealth Advisors LLC Buys New Position in BlackRock, Inc. (NYSE:BLK)

180 Wealth Advisors LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,596 shares of the asset manager's stock, valued at approximately $3,404,000.

Several other hedge funds have also made changes to their positions in BLK. GAMMA Investing LLC lifted its position in shares of BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Norges Bank acquired a new stake in BlackRock in the fourth quarter valued at approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in BlackRock by 401.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after acquiring an additional 876,836 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in BlackRock by 138,682.5% in the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after acquiring an additional 633,779 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in BlackRock in the fourth quarter valued at approximately $572,730,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. TD Cowen reduced their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. UBS Group reduced their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Citigroup cut their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company raised their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Barclays raised their price objective on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,082.46.

BlackRock Stock Performance

Shares of BLK traded up $0.88 during mid-day trading on Thursday, reaching $984.64. 176,393 shares of the company's stock were exchanged, compared to its average volume of 686,841. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The stock has a market capitalization of $152.55 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The business's fifty day simple moving average is $923.63 and its 200-day simple moving average is $974.25. BlackRock, Inc. has a 52-week low of $752.30 and a 52-week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period last year, the firm posted $9.81 earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced 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 of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.12%. BlackRock's payout ratio is currently 50.63%.

Insiders Place Their Bets

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 completion of the transaction, the director now owns 66,034 shares of the company's stock, valued at $56,261,628.34. The trade was a 2.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.98% of the company's stock.

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.