2,649 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX purchased a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,649 shares of the asset manager's stock, valued at approximately $2,744,000.

A number of other large investors have also recently bought and sold shares of the business. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the 4th quarter worth $26,000. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock in the 4th quarter worth $30,000. Collier Financial acquired a new stake in shares of BlackRock in the 4th quarter worth $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock in the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of BlackRock in the 4th quarter worth $40,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Cowen reduced their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Bank of America cut their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Barclays increased their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,077.08.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 12,430 shares of company stock worth $11,237,249 over the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

NYSE:BLK traded up $4.48 during mid-day trading on Thursday, hitting $975.76. 417,576 shares of the company's stock traded hands, compared to its average volume of 692,507. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm's 50 day simple moving average is $922.04 and its 200 day simple moving average is $976.40. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The company has a market cap of $151.17 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

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

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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.