611 Shares in BlackRock (NYSE:BLK) Purchased by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC bought a new stake in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 611 shares of the asset manager's stock, valued at approximately $578,000.

Several other institutional investors also recently added to or reduced their stakes in BLK. Mascoma Wealth Management LLC lifted its holdings in shares of BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after buying an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of BlackRock by 2.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after buying an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of BlackRock by 4.5% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after buying an additional 11 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of BlackRock by 10.8% during the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock worth $126,000 after buying an additional 12 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of BlackRock by 3.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock worth $409,000 after buying an additional 12 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. 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 report on Monday, April 14th. Barclays upped their price target on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Bank of America cut their price target 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 upped their price target on BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, TD Cowen cut their price target 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 analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,102.08.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.

BlackRock Trading Up 1.8%

Shares of BLK opened at $1,049.35 on Friday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $962.39 and a 200-day simple moving average of $968.76. The stock has a market cap of $162.58 billion, a PE ratio of 25.49, a PEG ratio of 3.18 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last issued 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. 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.81 EPS. On average, sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.99%. BlackRock's dividend payout ratio (DPR) is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.