Xcel Wealth Management LLC Grows Stock Position in BlackRock (NYSE:BLK)

Xcel Wealth Management LLC grew its position in shares of BlackRock (NYSE:BLK - Free Report) by 107.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,477 shares of the asset manager's stock after purchasing an additional 764 shares during the quarter. Xcel Wealth Management LLC's holdings in BlackRock were worth $1,398,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of BlackRock by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after buying an additional 68,405 shares in the last quarter. Capital World Investors grew its stake in BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after acquiring an additional 93,844 shares during the period. GAMMA Investing LLC increased its holdings in BlackRock by 104,598.9% in the 1st 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 raised its position in BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock worth $3,072,787,000 after acquiring an additional 190,188 shares during the period. Finally, FMR LLC lifted its holdings in BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after purchasing an additional 26,485 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 shares were 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 owned 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.98% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on BLK. The Goldman Sachs Group upped their price target on shares of BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. UBS Group cut their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Morgan Stanley raised their target price on BlackRock from $1,111.00 to $1,164.00 and gave the company an "overweight" rating in a research report on Wednesday. Argus boosted their price target on BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, Wall Street Zen upgraded BlackRock to a "hold" rating in a report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,110.92.

BlackRock Trading Up 0.5%

BLK traded up $5.71 during trading hours on Friday, reaching $1,076.28. The company's stock had a trading volume of 342,684 shares, compared to its average volume of 694,677. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The stock has a market cap of $166.74 billion, a PE ratio of 26.15, a P/E/G ratio of 3.25 and a beta of 1.41. The business's 50-day moving average is $976.32 and its 200-day moving average is $969.46.

BlackRock (NYSE:BLK - Get Free Report) last released 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 business had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $9.81 EPS. As a group, equities research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

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.