Cerity Partners LLC Boosts Stake in BlackRock (NYSE:BLK)

Cerity Partners LLC grew its stake in shares of BlackRock (NYSE:BLK - Free Report) by 13.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,207 shares of the asset manager's stock after buying an additional 16,804 shares during the period. Cerity Partners LLC owned approximately 0.09% of BlackRock worth $130,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BLK. Mascoma Wealth Management LLC boosted its stake in BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after purchasing an additional 11 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of BlackRock by 2.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after buying an additional 11 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of BlackRock by 4.5% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after buying an additional 11 shares in the last quarter. Detalus Advisors LLC boosted its position in shares of BlackRock by 2.8% during the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after acquiring an additional 11 shares during the last quarter. Finally, Truvestments Capital LLC grew its stake in BlackRock by 10.8% during the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock valued at $126,000 after acquiring an additional 12 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 0.1%

Shares of BLK traded down $1.42 during midday trading on Friday, reaching $1,102.63. The stock had a trading volume of 545,380 shares, compared to its average volume of 693,726. The company has a market cap of $170.83 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.24 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. The company's fifty day simple moving average is $993.20 and its two-hundred day simple moving average is $971.28. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,106.39.

BlackRock (NYSE:BLK - Get Free Report) last issued 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. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $9.81 EPS. Equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.89%. BlackRock's dividend payout ratio is currently 50.63%.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on 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 directly owned 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. Insiders own 1.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on BLK shares. Bank of America dropped their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Citigroup lowered their target price on 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. The Goldman Sachs Group restated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a research report on Tuesday. Morgan Stanley reiterated an "overweight" rating and set a $1,164.00 price objective on shares of BlackRock in a research report on Tuesday. Finally, Barclays lifted their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,132.29.

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.