Asset Allocation & Management Company LLC Purchases New Holdings in BlackRock, Inc. (NYSE:BLK)

Asset Allocation & Management Company LLC purchased a new position in BlackRock, Inc. (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 425 shares of the asset manager's stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Amalgamated Bank lifted its holdings in BlackRock by 1.7% during the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after acquiring an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in BlackRock by 4.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock worth $12,793,000 after acquiring an additional 578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after acquiring an additional 4,210 shares in the last quarter. E. Ohman J or Asset Management AB bought a new position in BlackRock during the fourth quarter worth about $46,284,000. Finally, Polar Capital Holdings Plc bought a new position in BlackRock during the fourth quarter worth about $15,307,000. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares in the company, valued at $56,261,628.34. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BLK shares. Citigroup reduced their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. TD Cowen cut their target price 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. UBS Group cut their target price on 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. Wells Fargo & Company cut their target price on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.

BlackRock Stock Performance

NYSE BLK traded down $2.10 during trading on Monday, reaching $977.79. 424,955 shares of the company's stock were exchanged, compared to its average volume of 689,854. The business has a 50 day moving average price of $922.34 and a 200-day moving average price of $974.57. The stock has a market capitalization of $151.49 billion, a P/E ratio of 23.28, a PEG ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. 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 announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the business earned $9.81 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio 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.