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

Concurrent Investment Advisors LLC boosted its stake in BlackRock (NYSE:BLK - Free Report) by 64.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,063 shares of the asset manager's stock after purchasing an additional 2,774 shares during the period. Concurrent Investment Advisors LLC's holdings in BlackRock were worth $6,685,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after buying an additional 3,496,740 shares in the last quarter. Norges Bank bought a new stake in shares of BlackRock in the 4th quarter worth about $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in BlackRock by 401.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after purchasing an additional 876,836 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after purchasing an additional 633,779 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in BlackRock during the 4th quarter valued at about $572,730,000. Institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BLK. Wells Fargo & Company reiterated an "overweight" rating on shares of BlackRock in a report on Tuesday. Morgan Stanley reiterated an "overweight" rating and set a $1,164.00 price target on shares of BlackRock in a report on Tuesday. Barclays upped their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Argus restated a "buy" rating on shares of BlackRock in a research note on Tuesday. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,108.62.

Insider Buying and Selling

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 shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director owned 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.

BlackRock Stock Up 1.1%

NYSE:BLK traded up $12.09 during midday trading on Wednesday, reaching $1,087.11. 220,602 shares of the stock traded hands, compared to its average volume of 694,014. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,088.28. The business has a 50-day moving average of $986.01 and a two-hundred day moving average of $970.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The stock has a market capitalization of $168.43 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.24 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the prior year, the company posted $9.81 earnings per share. BlackRock's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.92%. BlackRock's payout ratio is 50.63%.

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.