Harel Insurance Investments & Financial Services Ltd. Takes Position in BlackRock (NYSE:BLK)

Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 542 shares of the asset manager's stock, valued at approximately $513,000.

Several other hedge funds have also modified their holdings of BLK. IAG Wealth Partners LLC acquired a new position in BlackRock in the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV bought a new position in shares of BlackRock in the 4th quarter worth $30,000. MorganRosel Wealth Management LLC bought a new position in shares of BlackRock in the 1st quarter worth $31,000. Curio Wealth LLC bought a new position in shares of BlackRock in the 4th quarter worth $41,000. Finally, Cedar Wealth Management LLC acquired a new position in shares of BlackRock during the 4th quarter worth about $43,000. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.5%

BLK stock traded down $5.60 during trading hours on Monday, reaching $1,076.55. 559,629 shares of the stock were exchanged, compared to its average volume of 695,549. The firm's 50-day moving average is $982.91 and its 200-day moving average is $969.29. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,086.92. The company has a market cap of $166.79 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 3.26 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34.

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 for the quarter, topping the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $9.81 EPS. On average, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.94%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BLK shares. UBS Group decreased their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Argus upped their target price on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Bank of America dropped their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,110.92.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director directly owned 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.98% of the stock is owned by company 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.