Centerpoint Advisory Group Acquires New Stake in BlackRock (NYSE:BLK)

Centerpoint Advisory Group bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 869 shares of the asset manager's stock, valued at approximately $822,000.

Other institutional investors also recently bought and sold shares of the company. Jmac Enterprises LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $1,070,000. Cambridge Investment Research Advisors Inc. lifted its holdings in BlackRock by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,171 shares of the asset manager's stock worth $18,145,000 after buying an additional 774 shares in the last quarter. Crumly & Associates Inc. grew its stake in shares of BlackRock by 1.5% in the first quarter. Crumly & Associates Inc. now owns 864 shares of the asset manager's stock worth $818,000 after acquiring an additional 13 shares in the last quarter. Kennedy Investment Group acquired a new position in shares of BlackRock in the first quarter worth $568,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of BlackRock by 322.2% in the first quarter. Wolff Wiese Magana LLC now owns 76 shares of the asset manager's stock valued at $72,000 after acquiring an additional 58 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of BLK opened at $974.60 on Monday. 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 1-year low of $773.74 and a 1-year high of $1,084.22. The stock has a market cap of $150.99 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.96 and a beta of 1.41. The firm has a fifty day moving average price of $948.55 and a 200 day moving average price of $969.40.

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, beating the consensus estimate of $10.84 by $0.46. The business 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 business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $9.81 EPS. As a group, sell-side analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares of the company's stock, valued at $56,261,628.34. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Argus upped their target price on shares of BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Barclays lifted their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, Citigroup reduced their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,096.31.

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.

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