Chicago Capital LLC Takes $641,000 Position in BlackRock (NYSE:BLK)

Chicago Capital LLC bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 677 shares of the asset manager's stock, valued at approximately $641,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC bought a new stake in shares of BlackRock during the 4th quarter valued at $26,000. Investment Management Corp VA ADV purchased a new position in BlackRock during the fourth quarter valued at $30,000. Compass Planning Associates Inc bought a new stake in BlackRock during the fourth quarter valued at about $33,000. Synergy Investment Management LLC purchased a new stake in BlackRock in the fourth quarter worth about $40,000. Finally, Curio Wealth LLC bought a new position in shares of BlackRock in the fourth quarter worth about $41,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a 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 BLK stock traded up $8.70 during trading hours on Thursday, hitting $977.88. The stock had a trading volume of 662,589 shares, compared to its average volume of 690,856. 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 stock has a market capitalization of $151.50 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.97 and a beta of 1.41. BlackRock has a one year low of $773.74 and a one year high of $1,084.22. The stock's 50-day moving average price is $944.22 and its two-hundred day moving average price is $971.11.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $5.28 billion for 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 company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.81 EPS. Equities analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup cut their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America reduced their price objective on shares of 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. Argus raised their price objective on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,096.31.

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.