Albion Financial Group UT Buys 340 Shares of BlackRock (NYSE:BLK)

Albion Financial Group UT boosted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,695 shares of the asset manager's stock after purchasing an additional 340 shares during the period. Albion Financial Group UT's holdings in BlackRock were worth $11,069,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares in the last quarter. Norges Bank acquired a new position in shares of BlackRock in the 4th quarter worth approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in BlackRock by 401.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after acquiring an additional 876,836 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after purchasing an additional 633,779 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in BlackRock in the 4th quarter valued at $572,730,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 0.5%

Shares of NYSE:BLK traded up $5.71 during mid-day trading on Thursday, reaching $1,076.28. The stock had a trading volume of 342,684 shares, compared to its average volume of 801,241. The firm has a 50 day simple moving average of $973.12 and a two-hundred day simple moving average of $969.38. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,084.22. The firm has a market cap of $166.75 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $9.81 earnings per share. On average, research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.94%. BlackRock's dividend payout ratio is presently 50.63%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the firm's 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 sale, the director owned 66,034 shares of the company's stock, valued at $60,256,025. This trade represents 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. Insiders own 1.98% of the company's stock.

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. Argus increased their target price on BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Wells Fargo & Company raised their price target on BlackRock from $1,105.00 to $1,180.00 and gave the company an "overweight" rating in a report on Thursday. TD Cowen dropped their price objective 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. Finally, UBS Group reduced their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,110.92.

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.