Hall Capital Management Co. Inc. Makes New $330,000 Investment in BlackRock, Inc. (NYSE:BLK)

Hall Capital Management Co. Inc. acquired a new position in BlackRock, Inc. (NYSE:BLK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 322 shares of the asset manager's stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the fourth quarter worth $26,000. Investment Management Corp VA ADV bought a new stake in BlackRock in the 4th quarter valued at $30,000. Collier Financial bought a new stake in BlackRock in the 4th quarter valued at $32,000. Compass Planning Associates Inc bought a new stake in BlackRock in the 4th quarter valued at $33,000. Finally, Synergy Investment Management LLC bought a new stake in BlackRock in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Price Performance

NYSE BLK traded up $4.48 on Thursday, hitting $975.76. 417,576 shares of the company were exchanged, compared to its average volume of 692,507. The firm has a 50 day moving average of $922.04 and a two-hundred day moving average of $976.40. The company has a market cap of $151.17 billion, a P/E ratio of 23.23, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.81 EPS. On average, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.14%. BlackRock's dividend payout ratio is currently 50.63%.

Analysts Set New Price Targets

Several brokerages have issued reports on BLK. Wells Fargo & Company lowered their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Morgan Stanley lowered their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. TD Cowen lowered their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Citigroup reduced 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, UBS Group reduced their target price on shares of 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. Three investment 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, BlackRock has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 430 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the sale, the director now directly owns 3,720 shares of the company's stock, valued at $3,531,656.40. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is currently owned by insiders.

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.