AlphaCore Capital LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,588 shares of the asset manager's stock, valued at approximately $1,628,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. IAG Wealth Partners LLC bought a new position in BlackRock in the 4th quarter worth about $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock in the 4th quarter valued at about $30,000. Collier Financial bought a new position in BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock in the fourth quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of BlackRock in the fourth quarter valued at about $40,000. Institutional investors own 80.69% of the company's stock.
BlackRock Stock Performance
Shares of NYSE BLK traded down $9.78 during trading on Wednesday, reaching $971.54. 367,052 shares of the company traded hands, compared to its average volume of 693,226. The firm has a 50 day simple moving average of $921.62 and a 200-day simple moving average of $976.43. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $150.52 billion, a PE ratio of 23.13, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 52-week low of $752.30 and a 52-week high of $1,084.22.
BlackRock (NYSE:BLK - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $9.81 EPS. Equities research analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current year.
BlackRock Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.15%. BlackRock's dividend payout ratio (DPR) is 50.63%.
Analyst Ratings Changes
A number of research firms have commented on BLK. Bank of America lowered their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday. UBS Group cut their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. 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. Finally, Wells Fargo & Company cut their price objective on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.
Read Our Latest Stock Report on BLK
Insider Activity at BlackRock
In related news, Director J. Richard Kushel sold 430 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the sale, the director now directly owns 3,720 shares in the company, valued at approximately $3,531,656.40. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 12,430 shares of company stock worth $11,237,249. 1.98% of the stock is owned by company insiders.
BlackRock Company Profile
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Free Report)
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.
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