Fifth Third Wealth Advisors LLC Has $4.69 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Fifth Third Wealth Advisors LLC grew its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 32.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,956 shares of the asset manager's stock after buying an additional 1,214 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in BlackRock were worth $4,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in BLK. Cerro Pacific Wealth Advisors LLC acquired a new position in shares of BlackRock during the 1st quarter worth $2,099,000. Asset Allocation & Management Company LLC bought a new stake in BlackRock in the first quarter worth $402,000. First Community Trust NA acquired a new position in BlackRock during the first quarter worth $87,000. Investors Research Corp raised its holdings in BlackRock by 1.1% during the first quarter. Investors Research Corp now owns 1,428 shares of the asset manager's stock valued at $1,352,000 after buying an additional 15 shares in the last quarter. Finally, Somerset Trust Co lifted its position in shares of BlackRock by 5.8% in the first quarter. Somerset Trust Co now owns 4,637 shares of the asset manager's stock worth $4,389,000 after buying an additional 253 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Price Performance

Shares of BlackRock stock traded up $3.98 during mid-day trading on Thursday, reaching $987.74. 142,207 shares of the stock were exchanged, compared to its average volume of 686,703. The company has a market cap of $153.03 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $923.63 and a 200 day simple moving average of $974.25.

BlackRock (NYSE:BLK - Get Free Report) last announced its 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. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the business earned $9.81 EPS. BlackRock's revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction on 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 completion of the sale, the director now owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent analyst reports. TD Cowen decreased their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Citigroup lowered their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. Bank of America dropped their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, Barclays increased their price objective on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,082.46.

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.