Pallas Capital Advisors LLC Has $1.07 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Pallas Capital Advisors LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 112.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,135 shares of the asset manager's stock after acquiring an additional 602 shares during the period. Pallas Capital Advisors LLC's holdings in BlackRock were worth $1,073,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BLK shares. UBS Group reduced 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 research note on Friday, April 11th. Citigroup decreased their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Bank of America dropped their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company raised their price target on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley cut their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,082.46.

Insider Activity

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

BlackRock Stock Down 0.4%

NYSE BLK traded down $3.62 on Thursday, hitting $989.68. 145,546 shares of the stock traded hands, compared to its average volume of 687,336. BlackRock, Inc. has a twelve month low of $758.20 and a twelve month high of $1,084.22. The stock has a 50-day moving average of $931.30 and a 200 day moving average of $972.72. 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 company has a market capitalization of $153.33 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

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

BlackRock Announces Dividend

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

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.