Colonial Trust Advisors raised its position in BlackRock (NYSE:BLK - Free Report) by 28.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,837 shares of the asset manager's stock after purchasing an additional 410 shares during the quarter. Colonial Trust Advisors' holdings in BlackRock were worth $1,739,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC raised its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares during the period. Investment Management Corp VA ADV purchased a new stake in BlackRock during the fourth quarter worth about $30,000. Cheviot Value Management LLC purchased a new stake in BlackRock during the first quarter worth about $30,000. MorganRosel Wealth Management LLC purchased a new stake in BlackRock during the first quarter worth about $31,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in BlackRock during the first quarter worth about $34,000. Hedge funds and other institutional investors own 80.69% of the company's stock.
BlackRock Trading Up 0.1%
BLK opened at $1,136.35 on Tuesday. The company has a market cap of $175.96 billion, a P/E ratio of 27.47, a PEG ratio of 2.28 and a beta of 1.42. BlackRock has a one year low of $773.74 and a one year high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The business's 50-day simple moving average is $1,074.33 and its 200-day simple moving average is $989.18.
BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $10.36 earnings per share. As a group, equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on BLK. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Argus reaffirmed a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. Wells Fargo & Company cut their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Finally, UBS Group restated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,151.21.
Get Our Latest Stock Analysis on BLK
Insider Transactions at BlackRock
In related news, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the transaction, the chief executive officer owned 263,751 shares in the company, valued at $296,002,472.28. This represents a 5.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by company insiders.
BlackRock Company Profile
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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.
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