Bailard Inc. Raises Stock Holdings in BlackRock (NYSE:BLK)

Bailard Inc. lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,606 shares of the asset manager's stock after acquiring an additional 641 shares during the quarter. Bailard Inc.'s holdings in BlackRock were worth $26,129,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after buying an additional 296 shares during the period. Proficio Capital Partners LLC raised its holdings in BlackRock by 35.4% during the 4th quarter. Proficio Capital Partners LLC now owns 619 shares of the asset manager's stock valued at $634,000 after buying an additional 162 shares during the period. Harbour Investments Inc. purchased a new stake in BlackRock in the fourth quarter worth $635,000. Axxcess Wealth Management LLC increased its stake in BlackRock by 16.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,592 shares of the asset manager's stock worth $2,657,000 after purchasing an additional 363 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in BlackRock by 11.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,603 shares of the asset manager's stock worth $7,813,000 after purchasing an additional 795 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

BLK traded up $24.66 during trading on Thursday, hitting $1,106.90. 1,175,589 shares of the stock were exchanged, compared to its average volume of 702,455. The firm has a market capitalization of $171.49 billion, a P/E ratio of 26.76, a PEG ratio of 2.17 and a beta of 1.41. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,117.19. The stock has a fifty day moving average price of $1,006.37 and a two-hundred day moving average price of $972.22. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.36 earnings per share. As a group, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.88%. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Jefferies Financial Group increased their target price on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Wells Fargo & Company cut their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday. UBS Group restated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Barclays raised their price target on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.