Calamos Wealth Management LLC Takes $256,000 Position in BlackRock (NYSE:BLK)

Calamos Wealth Management LLC acquired a new stake in BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 270 shares of the asset manager's stock, valued at approximately $256,000.

A number of other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC increased its position in BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares during the period. Norges Bank bought a new position in BlackRock in the fourth quarter worth approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in BlackRock by 401.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after purchasing an additional 876,836 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of BlackRock by 138,682.5% in the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock worth $634,000 after acquiring an additional 633,779 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in BlackRock during the 4th quarter valued at $572,730,000. Institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BLK traded up $5.71 during trading on Friday, reaching $1,076.28. 342,684 shares of the company were exchanged, compared to its average volume of 694,677. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,084.22. The company's 50-day moving average is $979.68 and its two-hundred day moving average is $969.64. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The company has a market cap of $166.75 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 3.26 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted 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. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the prior year, the firm posted $9.81 EPS. BlackRock's revenue was up 11.6% on a year-over-year basis. Research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

Insider Buying and Selling

In other 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on BLK. Barclays upped their price objective on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Wells Fargo & Company upped their target price on BlackRock from $1,105.00 to $1,180.00 and gave the company an "overweight" rating in a report on Thursday. UBS Group cut their price objective 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 raised 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. Finally, The Goldman Sachs Group increased their price target on shares of BlackRock from $994.00 to $1,115.00 and gave the company a "buy" rating in a research report on Friday, June 27th. 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.com, BlackRock presently 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.