BlackRock (NYSE:BLK) Shares Acquired by Kanawha Capital Management LLC

Kanawha Capital Management LLC increased its holdings in BlackRock (NYSE:BLK - Free Report) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,591 shares of the asset manager's stock after purchasing an additional 437 shares during the period. Kanawha Capital Management LLC's holdings in BlackRock were worth $5,291,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC bought a new position in shares of BlackRock during the 4th quarter valued at approximately $26,000. Investment Management Corp VA ADV bought a new position in shares of BlackRock during the 4th quarter valued at approximately $30,000. MorganRosel Wealth Management LLC bought a new position in shares of BlackRock during the 1st quarter valued at approximately $31,000. Synergy Investment Management LLC bought a new position in BlackRock in the 4th quarter valued at $40,000. Finally, Curio Wealth LLC bought a new position in BlackRock in the 4th quarter valued at $41,000. Institutional investors own 80.69% of the company's stock.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction 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 completion of the sale, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by company insiders.

BlackRock Price Performance

BLK stock traded up $5.71 during mid-day trading on Friday, reaching $1,076.28. 342,684 shares of the company's stock were exchanged, compared to its average volume of 696,095. The company has a market cap of $166.75 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 3.26 and a beta of 1.41. The stock's 50 day moving average is $979.68 and its 200 day moving average is $969.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,084.22.

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 company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. BlackRock's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.81 earnings per share. On average, research analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.94%. BlackRock's dividend payout ratio (DPR) is 50.63%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BLK shares. Morgan Stanley upped their target price on BlackRock from $1,111.00 to $1,164.00 and gave the stock an "overweight" rating in a report on Wednesday. The Goldman Sachs Group increased their price target on BlackRock from $994.00 to $1,115.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. JPMorgan Chase & Co. cut their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,110.92.

BlackRock 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.