Chancellor Financial Group WB LP Invests $325,000 in BlackRock, Inc. (NYSE:BLK)

Chancellor Financial Group WB LP bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 317 shares of the asset manager's stock, valued at approximately $325,000.

A number of other hedge funds have also bought and sold shares of BLK. IAG Wealth Partners LLC acquired a new position in shares of BlackRock during the 4th quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new stake in BlackRock during the fourth quarter worth approximately $30,000. Collier Financial bought a new position in BlackRock during the 4th quarter worth $32,000. Compass Planning Associates Inc acquired a new position in BlackRock in the 4th quarter valued at $33,000. Finally, Synergy Investment Management LLC bought a new stake in shares of BlackRock during the 4th quarter valued at $40,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. dropped their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. TD Cowen cut their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Barclays lifted their price objective on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Finally, Morgan Stanley cut their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

BlackRock Price Performance

Shares of NYSE:BLK traded up $1.63 during trading on Friday, hitting $977.95. 1,060,907 shares of the company were exchanged, compared to its average volume of 690,922. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22. The company has a market capitalization of $151.51 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The business's 50 day moving average is $922.34 and its 200-day moving average is $975.08.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the prior year, the firm earned $9.81 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.13%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction on 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 now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.98% of the stock is owned by corporate insiders.

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.