Farther Finance Advisors LLC Has $2.42 Million Stake in BlackRock, Inc. (NYSE:BLK)

Farther Finance Advisors LLC raised its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,561 shares of the asset manager's stock after buying an additional 269 shares during the period. Farther Finance Advisors LLC's holdings in BlackRock were worth $2,418,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. Vanguard Group Inc. boosted its stake in BlackRock by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after purchasing an additional 68,405 shares in the last quarter. Capital World Investors grew its holdings in 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 acquiring an additional 93,844 shares during the period. GAMMA Investing LLC raised its position in BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after acquiring an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $3,072,787,000 after acquiring an additional 190,188 shares during the last quarter. Finally, FMR LLC grew its stake in shares of 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 currently owned by institutional investors.

BlackRock Stock Down 1.7%

Shares of NYSE BLK traded down $17.01 during mid-day trading on Friday, reaching $971.24. The company had a trading volume of 674,277 shares, compared to its average volume of 690,463. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a twelve month low of $766.05 and a twelve month high of $1,084.22. The stock's 50 day moving average is $937.84 and its 200-day moving average is $972.04. The stock has a market capitalization of $150.47 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted 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. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $9.81 EPS. As a group, equities analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio is 50.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup reduced 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. JPMorgan Chase & Co. cut their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Barclays upped their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Wall Street Zen upgraded BlackRock to a "hold" rating in a report on Saturday, May 24th. Finally, Bank of America decreased their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,082.46.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's 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 completion of the sale, the director now owns 66,034 shares of the company's stock, valued at $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is owned by insiders.

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.