Constitution Capital LLC Buys Shares of 1,100 BlackRock, Inc. (NYSE:BLK)

Constitution Capital LLC bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,100 shares of the asset manager's stock, valued at approximately $1,041,000.

A number of other hedge funds have also recently modified their holdings of BLK. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in BlackRock by 0.8% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager's stock valued at $1,311,000 after buying an additional 10 shares during the period. Legacy Capital Group California Inc. grew its stake in shares of BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager's stock worth $377,000 after purchasing an additional 10 shares during the last quarter. Mascoma Wealth Management LLC grew its stake in shares of 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 last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.5%

Shares of BLK traded up $4.80 during midday trading on Friday, hitting $990.26. The stock had a trading volume of 623,159 shares, compared to its average volume of 689,504. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The business has a 50-day simple moving average of $925.28 and a two-hundred day simple moving average of $973.54. The firm has a market cap of $153.42 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays lifted their price objective 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. UBS Group lowered their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Bank of America lowered their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Citigroup lowered 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 research note on Monday, April 14th. Finally, Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,082.46.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

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.