258 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Breakwater Capital Group

Breakwater Capital Group bought a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 258 shares of the asset manager's stock, valued at approximately $244,000.

A number of other institutional investors have also recently made changes to their positions in BLK. Salvus Wealth Management LLC purchased a new position in BlackRock in the first quarter worth about $1,560,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of BlackRock by 15.9% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,039 shares of the asset manager's stock worth $2,876,000 after purchasing an additional 416 shares during the period. Lake Street Private Wealth LLC boosted its holdings in shares of BlackRock by 3.3% in the first quarter. Lake Street Private Wealth LLC now owns 1,250 shares of the asset manager's stock worth $1,183,000 after buying an additional 40 shares during the last quarter. Fermata Advisors LLC grew its position in BlackRock by 96.3% during the first quarter. Fermata Advisors LLC now owns 483 shares of the asset manager's stock valued at $458,000 after buying an additional 237 shares during the period. Finally, Columbia Asset Management purchased a new stake in BlackRock during the first quarter valued at approximately $1,076,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on BLK. Barclays upped their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. UBS Group reduced their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lifted their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a research report on Wednesday. TD Cowen reduced their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Wall Street Zen raised shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,082.46.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director now directly owns 66,034 shares in the company, valued at $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.98% of the company's stock.

BlackRock Trading Up 0.5%

Shares of BLK opened at $990.26 on Friday. The company's fifty day simple moving average is $925.28 and its 200-day simple moving average is $973.54. The company has a market cap of $153.42 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the firm earned $9.81 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio is currently 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.

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