Advisors Preferred LLC Makes New $2.08 Million Investment in BlackRock (NYSE:BLK)

Advisors Preferred LLC bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,200 shares of the asset manager's stock, valued at approximately $2,077,000.

Other hedge funds also recently made changes to their positions in the company. Securian Asset Management Inc. acquired a new position in shares of BlackRock in the 1st quarter worth approximately $7,331,000. Prudent Man Advisors LLC acquired a new position in shares of BlackRock in the 1st quarter worth approximately $2,018,000. Arizona State Retirement System acquired a new position in shares of BlackRock in the 1st quarter worth approximately $40,868,000. Polar Capital Holdings Plc acquired a new position in shares of BlackRock in the 4th quarter worth approximately $15,307,000. Finally, Community Financial Services Group LLC increased its position in shares of BlackRock by 17.2% in the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after acquiring an additional 836 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

Shares of BlackRock stock traded up $5.11 on Friday, reaching $1,123.48. The stock had a trading volume of 516,296 shares, compared to its average volume of 672,644. The business's 50-day moving average price is $1,027.64 and its two-hundred day moving average price is $976.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,130.66. The stock has a market cap of $174.06 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 2.26 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $10.36 EPS. On average, sell-side analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BLK shares. Bank of America lifted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Wells Fargo & Company reduced their price objective on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,352 shares of company stock valued at $55,486,962 in the last 90 days. 1.98% of the stock is currently owned by company insiders.

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.