Canandaigua National Bank & Trust Co. acquired a new stake in BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,361 shares of the asset manager's stock, valued at approximately $4,128,000.
A number of other hedge funds also recently modified their holdings of the stock. IAG Wealth Partners LLC bought a new position in BlackRock in the 4th quarter valued at about $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the fourth quarter worth approximately $30,000. Synergy Investment Management LLC acquired 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 during the fourth quarter worth approximately $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.
Insiders Place Their Bets
In other BlackRock 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 transaction of $9,125,000.00. Following the completion of the transaction, the director owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.
BlackRock Price Performance
Shares of NYSE BLK traded up $16.26 during trading hours on Wednesday, hitting $1,070.53. 494,995 shares of the stock were exchanged, compared to its average volume of 694,309. The company's fifty day simple moving average is $973.12 and its two-hundred day simple moving average is $969.38. The company has a market cap of $165.86 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. 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 released its 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. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the prior year, the company earned $9.81 earnings per share. The company's quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that BlackRock will post 47.41 EPS for the current 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 $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on BLK. Citigroup decreased their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Argus upped their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Bank of America decreased their target price on shares of 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, TD Cowen lowered their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus target price of $1,105.15.
Read Our Latest Analysis on BLK
BlackRock Company Profile
(
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.
Further Reading
Before you consider BlackRock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackRock wasn't on the list.
While BlackRock currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
