Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 263 Shares of BlackRock (NYSE:BLK)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors decreased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 18.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,134 shares of the asset manager's stock after selling 263 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors' holdings in BlackRock were worth $1,073,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in BlackRock by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after buying an additional 68,405 shares in the last quarter. Capital World Investors lifted its position in shares of BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares in the last quarter. GAMMA Investing LLC grew its stake 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 valued at $3,312,759,000 after purchasing an additional 3,496,740 shares during the last quarter. Geode Capital Management LLC raised its position in BlackRock by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock worth $3,072,787,000 after purchasing an additional 190,188 shares during the last quarter. Finally, FMR LLC raised its position in BlackRock by 1.1% in the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock worth $2,450,475,000 after purchasing an additional 26,485 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 0.9%

NYSE BLK opened at $977.88 on Thursday. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average of $944.22 and a 200-day moving average of $971.11. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22. The company has a market cap of $151.50 billion, a PE ratio of 23.76, a PEG ratio of 2.94 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data 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. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter last year, the business earned $9.81 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BLK has been the topic of several analyst reports. Citigroup cut 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. UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Morgan Stanley decreased their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Argus raised their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, TD Cowen reduced their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,096.31.

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.

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