BlackRock (NYSE:BLK) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 64.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,063 shares of the asset manager's stock after acquiring an additional 2,774 shares during the period. Concurrent Investment Advisors LLC's holdings in BlackRock were worth $6,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after acquiring an additional 4,210 shares during the period. Polar Capital Holdings Plc acquired a new position in BlackRock during the fourth quarter worth $15,307,000. Community Financial Services Group LLC grew its holdings in BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after acquiring an additional 836 shares during the period. Kennedy Investment Group acquired a new position in BlackRock during the first quarter worth $568,000. Finally, 3Chopt Investment Partners LLC acquired a new position in BlackRock during the first quarter worth $578,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

BLK has been the topic of a number of research analyst reports. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. UBS Group decreased their target price on 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. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. The Goldman Sachs Group boosted their target price on BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. decreased 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,110.92.

BlackRock Price Performance

Shares of NYSE:BLK traded down $5.60 on Monday, hitting $1,076.55. The company had a trading volume of 559,629 shares, compared to its average volume of 695,549. 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 52-week low of $773.74 and a 52-week high of $1,086.92. The business has a 50 day moving average of $979.68 and a 200 day moving average of $968.96. The company has a market cap of $166.79 billion, a PE ratio of 26.16, a PEG ratio of 3.26 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $9.81 EPS. As a group, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors 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 annualized dividend and a dividend yield of 1.94%. BlackRock's dividend payout ratio is presently 50.63%.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the firm'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 sale, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.98% of the company's stock.

About BlackRock

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.