Northstar Financial Companies Inc. Purchases Shares of 261 BlackRock, Inc. (NYSE:BLK)

Northstar Financial Companies Inc. bought a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 261 shares of the asset manager's stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC purchased a new position in shares of BlackRock during the fourth quarter valued at $26,000. Investment Management Corp VA ADV purchased a new position in shares of BlackRock during the fourth quarter valued at $30,000. Collier Financial purchased a new position in shares of BlackRock during the fourth quarter valued at $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock during the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of BlackRock during the fourth quarter valued at $40,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Up 0.2%

Shares of BLK stock traded up $1.63 during trading hours on Friday, reaching $977.95. 1,060,907 shares of the company's stock were exchanged, compared to its average volume of 694,622. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The stock has a market cap of $151.51 billion, a PE ratio of 23.28, a PEG 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. The stock's fifty day moving average price is $922.34 and its two-hundred day moving average price is $975.46.

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

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is 50.63%.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated 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 completion of the sale, the director now owns 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.98% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on BLK shares. Barclays raised their price target on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. cut their price target 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. Citigroup cut their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut their target price 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. Finally, TD Cowen cut their target price 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,077.08.

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.