McHugh Group LLC Invests $1.19 Million in BlackRock (NYSE:BLK)

McHugh Group LLC acquired a new position in shares of BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,255 shares of the asset manager's stock, valued at approximately $1,188,000. BlackRock accounts for approximately 0.9% of McHugh Group LLC's holdings, making the stock its 21st biggest holding.

A number of other hedge funds have also bought and sold shares of BLK. IAG Wealth Partners LLC bought a new stake in shares of BlackRock in the 4th quarter valued at $26,000. Investment Management Corp VA ADV bought a new stake in BlackRock in the fourth quarter valued at $30,000. Compass Planning Associates Inc acquired a new position in shares of BlackRock during the fourth quarter valued at about $33,000. Synergy Investment Management LLC bought a new position in shares of BlackRock during the 4th quarter worth about $40,000. Finally, Curio Wealth LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at about $41,000. Institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Argus raised their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research note on Tuesday. Bank of America decreased their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Barclays raised their price objective on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Wells Fargo & Company lifted their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, TD Cowen lowered their target price 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,096.31.

BlackRock Trading Up 0.9%

Shares of BLK stock opened at $977.88 on Thursday. 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 company has a market capitalization of $151.50 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.94 and a beta of 1.41. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,084.22. The company has a 50-day simple moving average of $944.22 and a two-hundred day simple moving average of $971.11.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. BlackRock's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $9.81 earnings per share. Research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.13%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Activity

In related news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total value of $1,704,020.00. Following the transaction, the director now directly owns 66,034 shares of the company's stock, valued at approximately $56,261,628.34. The trade was a 2.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.98% of the company's stock.

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.

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