FFG Partners LLC purchased a new position in shares of BlackRock (NYSE:BLK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,539 shares of the asset manager's stock, valued at approximately $6,190,000. BlackRock comprises approximately 2.5% of FFG Partners LLC's portfolio, making the stock its 16th largest holding.
Other large investors also recently bought and sold shares of the company. IAG Wealth Partners LLC purchased a new position in BlackRock during the 4th quarter worth $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock in the fourth quarter valued at about $30,000. Synergy Investment Management LLC purchased a new position in BlackRock during the 4th quarter valued at about $40,000. Curio Wealth LLC bought a new stake in shares of BlackRock in the 4th quarter valued at about $41,000. Finally, Cedar Wealth Management LLC purchased a new stake in shares of BlackRock in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 80.69% of the company's stock.
BlackRock Stock Performance
BLK stock traded up $13.30 during midday trading on Thursday, reaching $1,031.38. The stock had a trading volume of 631,243 shares, compared to its average volume of 693,551. The firm has a fifty day simple moving average of $955.81 and a two-hundred day simple moving average of $969.60. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The stock has a market cap of $159.79 billion, a PE ratio of 25.06, a P/E/G ratio of 3.09 and a beta of 1.41.
BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the company posted $9.81 earnings per share. The company's revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.
BlackRock Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a dividend of $5.21 per share. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.02%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.
Insider Activity at BlackRock
In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director now directly owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.98% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of brokerages recently commented on BLK. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Barclays upped their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. UBS Group cut their target price on 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. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, Bank of America decreased their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,096.31.
Check Out Our Latest Research Report on BlackRock
About BlackRock
(
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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