Tradewinds LLC. Increases Position in BlackRock (NYSE:BLK)

Tradewinds LLC. boosted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 640.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,783 shares of the asset manager's stock after buying an additional 4,137 shares during the period. BlackRock accounts for about 1.3% of Tradewinds LLC.'s investment portfolio, making the stock its 26th biggest holding. Tradewinds LLC.'s holdings in BlackRock were worth $4,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after purchasing an additional 4,210 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in shares of BlackRock during the fourth quarter worth $15,307,000. Community Financial Services Group LLC increased its position in shares of BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after purchasing an additional 836 shares in the last quarter. Kennedy Investment Group acquired a new position in shares of BlackRock during the first quarter worth $568,000. Finally, 3Chopt Investment Partners LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $578,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Performance

BLK traded up $5.71 during midday trading on Friday, hitting $1,076.28. 342,684 shares of the company were exchanged, compared to its average volume of 696,095. The company's 50 day simple moving average is $979.68 and its 200 day simple moving average is $969.29. The firm has a market capitalization 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 company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. 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 announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate 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%. 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 firm earned $9.81 EPS. As a group, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were given a dividend of $5.21 per share. 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 presently 50.63%.

Insider Buying and Selling at BlackRock

In related 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 value of $9,125,000.00. Following the completion of the transaction, the director owned 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BLK has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Argus upped their target price on BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Bank of America cut their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, Citigroup cut their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Three 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, the company presently has an average rating of "Moderate Buy" and an average target price of $1,110.92.

BlackRock Company 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.