Charter Oak Capital Management LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Charter Oak Capital Management LLC purchased a new position in BlackRock, Inc. (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 284 shares of the asset manager's stock, valued at approximately $269,000.

Several other institutional investors and hedge funds have also bought and sold shares of BLK. IAG Wealth Partners LLC bought a new stake in BlackRock in the 4th quarter worth about $26,000. Investment Management Corp VA ADV purchased a new stake in BlackRock during the fourth quarter valued at approximately $30,000. Collier Financial bought a new position in BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc purchased a new stake in shares of BlackRock during the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC purchased a new stake in BlackRock in the fourth quarter valued at about $40,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction on 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 completion of the sale, the director now directly owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is owned by insiders.

BlackRock Trading Up 0.1%

Shares of BLK traded up $1.40 during mid-day trading on Wednesday, reaching $993.30. The company had a trading volume of 458,460 shares, compared to its average volume of 688,563. The stock has a market cap of $153.89 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth 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 firm has a fifty day simple moving average of $927.88 and a 200-day simple moving average of $972.57. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.81 earnings per share. On average, sell-side analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.10%. BlackRock's dividend payout ratio (DPR) is 50.63%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BLK shares. JPMorgan Chase & Co. cut their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. 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. Bank of America reduced their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company boosted their price target on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, TD Cowen decreased 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,082.46.

BlackRock Company 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.