Asset Allocation & Management Company LLC Takes $402,000 Position in BlackRock, Inc. (NYSE:BLK)

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

Several other large investors also recently bought and sold shares of the company. IAG Wealth Partners LLC purchased a new stake in BlackRock during the 4th quarter valued at about $26,000. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $30,000. Collier Financial acquired a new stake in shares of BlackRock in the fourth quarter valued at approximately $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock during the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of BlackRock during the 4th quarter valued at about $40,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.6%

BLK traded up $6.34 on Wednesday, hitting $988.47. 223,869 shares of the company were exchanged, compared to its average volume of 838,547. BlackRock, Inc. has a twelve month low of $752.29 and a twelve month high of $1,084.22. The company has a market cap of $153.14 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $922.81 and a two-hundred day moving average price of $974.15.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.81 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.11%. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director now directly owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Barclays raised their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Citigroup dropped their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,082.46.

BlackRock 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.