Cwm LLC Purchases 519 Shares of BlackRock (NYSE:BLK)

CWM LLC grew its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,350 shares of the asset manager's stock after buying an additional 519 shares during the period. CWM LLC's holdings in BlackRock were worth $8,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Hazlett Burt & Watson Inc. lifted its position in BlackRock by 2.1% in the fourth 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 lifted its position 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 worth $263,000 after purchasing an additional 11 shares during the period. Detalus Advisors LLC lifted its position in BlackRock by 2.8% in the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after purchasing an additional 11 shares during the period. Prestige Wealth Management Group LLC lifted its position in BlackRock by 3.1% in the fourth quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock worth $409,000 after purchasing an additional 12 shares during the period. Finally, Jump Financial LLC lifted its position in BlackRock by 1.6% in the fourth quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock worth $806,000 after purchasing an additional 12 shares during the period. Institutional investors own 80.69% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Argus reaffirmed a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company cut their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research note on Wednesday. Citigroup cut their target price 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 upgraded shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Three investment 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, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director directly owned 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 is accessible through the SEC website. Insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of BLK traded up $12.03 during trading hours on Friday, reaching $1,117.41. 164,518 shares of the company traded hands, compared to its average volume of 700,383. The stock's fifty day moving average is $1,009.94 and its 200 day moving average is $972.77. The stock has a market cap of $173.12 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,118.25.

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

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.87%. BlackRock's payout ratio is presently 50.39%.

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.