Hohimer Wealth Management LLC Increases Stock Holdings in BlackRock (NYSE:BLK)

Hohimer Wealth Management LLC lifted its position in shares of BlackRock (NYSE:BLK - Free Report) by 12.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,166 shares of the asset manager's stock after purchasing an additional 668 shares during the period. BlackRock accounts for about 1.1% of Hohimer Wealth Management LLC's holdings, making the stock its 17th biggest position. Hohimer Wealth Management LLC's holdings in BlackRock were worth $5,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BLK. Hazlett Burt & Watson Inc. raised its position in BlackRock by 2.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after acquiring an additional 11 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after purchasing an additional 11 shares in the last quarter. Detalus Advisors LLC raised its holdings in BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after purchasing an additional 11 shares during the period. Prestige Wealth Management Group LLC lifted its position in BlackRock by 3.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock valued at $409,000 after purchasing an additional 12 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in BlackRock by 1.6% during the fourth quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock valued at $806,000 after purchasing an additional 12 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BLK shares. Bank of America decreased 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. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company reissued an "overweight" rating on shares of BlackRock in a research note on Tuesday, July 8th. Barclays lifted their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $1,164.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve 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 $1,132.29.

Insider Activity at BlackRock

In other 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 value of $9,125,000.00. Following the sale, the director directly owned 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.98% of the stock is owned by insiders.

BlackRock Price Performance

Shares of NYSE:BLK traded up $9.49 during mid-day trading on Monday, reaching $1,111.13. The stock had a trading volume of 659,727 shares, compared to its average volume of 788,017. The business's 50 day moving average price is $996.68 and its 200 day moving average price is $970.45. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,112.13. The company has a market cap of $172.14 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 2.22 and a beta of 1.41. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (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 business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the company posted $9.81 EPS. The company's revenue was up 11.6% compared to the same quarter last year. Research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio 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.