Goelzer Investment Management Inc. Purchases 2,884 Shares of BlackRock (NYSE:BLK)

Goelzer Investment Management Inc. grew its position in BlackRock (NYSE:BLK - Free Report) by 565.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,394 shares of the asset manager's stock after acquiring an additional 2,884 shares during the period. Goelzer Investment Management Inc.'s holdings in BlackRock were worth $3,212,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new position in BlackRock during the 4th quarter worth $26,000. Investment Management Corp VA ADV bought a new position in BlackRock during the 4th quarter worth $30,000. MorganRosel Wealth Management LLC bought a new position in BlackRock during the 1st quarter worth $31,000. Synergy Investment Management LLC bought a new position in BlackRock during the 4th quarter worth $40,000. Finally, Curio Wealth LLC bought a new position in BlackRock during the 4th quarter worth $41,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup decreased their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Argus increased their price target on BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. UBS Group decreased their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barclays increased their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Finally, Wall Street Zen upgraded BlackRock to a "hold" rating in a report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,110.92.

BlackRock Stock Up 0.5%

Shares of BLK traded up $5.71 during trading hours on Friday, hitting $1,076.28. The stock had a trading volume of 342,684 shares, compared to its average volume of 696,095. 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 firm has a 50 day simple moving average of $979.68 and a 200-day simple moving average of $969.29. The firm has a market capitalization of $166.75 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 3.26 and a beta of 1.41. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate 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%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $9.81 EPS. Sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared 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 was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.94%. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director owned 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.