Community Financial Services Group LLC increased its holdings in BlackRock (NYSE:BLK - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,702 shares of the asset manager's stock after buying an additional 836 shares during the period. Community Financial Services Group LLC's holdings in BlackRock were worth $5,397,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. IAG Wealth Partners LLC bought a new position in BlackRock in the 4th quarter worth about $26,000. Investment Management Corp VA ADV bought a new position in shares of BlackRock in the fourth quarter valued at approximately $30,000. Synergy Investment Management LLC bought a new position in shares of BlackRock in the fourth quarter valued at approximately $40,000. Curio Wealth LLC bought a new position in shares of BlackRock in the fourth quarter valued at approximately $41,000. Finally, Cedar Wealth Management LLC bought a new position in shares of BlackRock in the fourth quarter valued at approximately $43,000. 80.69% of the stock is owned by institutional investors.
BlackRock Price Performance
BLK stock traded up $18.56 during mid-day trading on Friday, hitting $1,049.35. 799,881 shares of the stock were exchanged, compared to its average volume of 695,037. The business has a fifty day moving average price of $962.39 and a 200 day moving average price of $969.42. The stock has a market capitalization of $162.58 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.13 and a beta of 1.41. BlackRock has a 12 month low of $773.74 and a 12 month 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.
BlackRock (NYSE:BLK - Get Free Report) last released its 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 company had revenue of $5.28 billion during 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.81 EPS. On average, sell-side analysts anticipate that BlackRock will post 47.41 EPS for the current year.
BlackRock Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock's payout ratio is 50.63%.
Insiders Place Their Bets
In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated 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 now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages have commented on BLK. Morgan Stanley cut their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. dropped their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group lifted their price objective on BlackRock from $994.00 to $1,115.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, TD Cowen dropped their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,102.08.
View Our Latest Stock Analysis on BlackRock
About BlackRock
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Free Report)
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.
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