Csenge Advisory Group Sells 324 Shares of BlackRock (NYSE:BLK)

Csenge Advisory Group lessened its position in BlackRock (NYSE:BLK - Free Report) by 30.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 751 shares of the asset manager's stock after selling 324 shares during the quarter. Csenge Advisory Group's holdings in BlackRock were worth $658,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. Hazlett Burt & Watson Inc. boosted its position in shares of BlackRock by 2.1% during 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 period. Annis Gardner Whiting Capital Advisors LLC increased its stake in BlackRock by 4.5% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after purchasing an additional 11 shares during the period. Detalus Advisors LLC increased its stake in BlackRock by 2.8% in the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock valued at $387,000 after purchasing an additional 11 shares during the period. Prestige Wealth Management Group LLC increased its stake in BlackRock by 3.1% in the fourth quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock valued at $409,000 after purchasing an additional 12 shares during the period. Finally, Jump Financial LLC boosted its holdings in shares of BlackRock by 1.6% in the fourth quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock valued at $806,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

BLK stock traded up $2.49 during trading hours on Thursday, hitting $1,122.86. 143,472 shares of the stock were exchanged, compared to its average volume of 795,373. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $173.97 billion, a P/E ratio of 27.20, a P/E/G ratio of 2.22 and a beta of 1.41. The company has a 50-day simple moving average of $1,022.22 and a two-hundred day simple moving average of $975.06. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,125.76.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The company had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter last year, the business earned $10.36 earnings per share. BlackRock's revenue was up 12.9% on a year-over-year basis. On average, analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.86%. BlackRock's payout ratio is 50.39%.

Analysts Set New Price Targets

A number of research firms recently commented on BLK. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Jefferies Financial Group increased their target price on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Morgan Stanley dropped their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Finally, Citigroup decreased their target price on shares of 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,151.21.

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.