Cambridge Investment Research Advisors Inc. Boosts Stock Holdings in BlackRock (NYSE:BLK)

Cambridge Investment Research Advisors Inc. lifted its position in BlackRock (NYSE:BLK - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,171 shares of the asset manager's stock after purchasing an additional 774 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in BlackRock were worth $18,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLK. IAG Wealth Partners LLC bought a new position in shares of BlackRock during the fourth quarter worth $26,000. Investment Management Corp VA ADV bought a new position in shares of BlackRock during the fourth quarter worth $30,000. Synergy Investment Management LLC bought a new position in shares of BlackRock during the fourth quarter worth $40,000. Curio Wealth LLC bought a new position in shares of BlackRock during the fourth quarter worth $41,000. Finally, Cedar Wealth Management LLC bought a new position in shares of BlackRock during the fourth quarter worth $43,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 1.4%

Shares of BlackRock stock traded up $14.46 during trading on Wednesday, hitting $1,019.43. The stock had a trading volume of 661,743 shares, compared to its average volume of 693,141. The firm's fifty day simple moving average is $955.81 and its 200-day simple moving average is $969.60. The stock has a market cap of $157.94 billion, a PE ratio of 24.77, a PEG ratio of 3.05 and a beta of 1.41. 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 has a 12 month low of $773.74 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business's revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $9.81 EPS. As a group, sell-side analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio is presently 50.63%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America dropped their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. UBS Group dropped their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Citigroup lowered their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays increased their price objective on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Finally, Morgan Stanley lowered their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and an average target price of $1,096.31.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 66,034 shares of the company's stock, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is currently owned by insiders.

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.