Asset Management One Co. Ltd. Raises Position in BlackRock (NYSE:BLK)

Asset Management One Co. Ltd. boosted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,603 shares of the asset manager's stock after buying an additional 3,598 shares during the quarter. Asset Management One Co. Ltd.'s holdings in BlackRock were worth $63,038,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BLK. IAG Wealth Partners LLC bought a new position in shares of BlackRock in the 4th quarter worth $26,000. Investment Management Corp VA ADV bought a new position in BlackRock in the fourth quarter worth about $30,000. Synergy Investment Management LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at about $40,000. Curio Wealth LLC bought a new stake in shares of BlackRock in the 4th quarter valued at about $41,000. Finally, Cedar Wealth Management LLC purchased a new position in shares of BlackRock in the 4th quarter worth approximately $43,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

NYSE BLK traded up $14.46 on Wednesday, hitting $1,019.43. 650,958 shares of the company's stock traded hands, compared to its average volume of 691,949. The firm's 50-day moving average price is $952.76 and its two-hundred day moving average price is $969.25. The firm has a market capitalization of $157.94 billion, a PE ratio of 24.77, a P/E/G ratio of 2.99 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 has a 1-year low of $773.74 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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 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 firm's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $9.81 earnings per share. As a group, analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.04%. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Citigroup dropped their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. TD Cowen decreased their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Barclays raised their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,096.31.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.98% of the company's stock.

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.