Meridian Investment Counsel Inc. purchased a new stake in BlackRock (NYSE:BLK - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 272 shares of the asset manager's stock, valued at approximately $257,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IAG Wealth Partners LLC purchased a new stake in BlackRock in the 4th quarter worth approximately $26,000. Investment Management Corp VA ADV purchased a new stake in BlackRock in the 4th quarter valued at about $30,000. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock during the 1st quarter valued at about $31,000. Curio Wealth LLC acquired a new stake in shares of BlackRock in the fourth quarter worth approximately $41,000. Finally, Cedar Wealth Management LLC acquired a new position in BlackRock during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.
Insider Activity
In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated 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 directly owned 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by insiders.
BlackRock Stock Performance
Shares of BLK traded down $1.17 during midday trading on Monday, hitting $1,080.99. 213,591 shares of the stock traded hands, compared to its average volume of 796,470. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,086.84. The business's 50 day moving average price is $979.68 and its two-hundred day moving average price is $968.96. The firm has a market capitalization of $167.48 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 3.26 and a beta of 1.41.
BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the prior year, the firm posted $9.81 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were issued a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.93%. BlackRock's dividend payout ratio is currently 50.63%.
Analyst Upgrades and Downgrades
BLK has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. TD Cowen decreased their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. UBS Group reduced their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Argus lifted their price objective 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. Finally, Bank of America dropped their price target on shares of 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, BlackRock presently has a consensus rating of "Moderate Buy" and an average price target of $1,110.92.
View Our Latest Stock Analysis on BlackRock
About BlackRock
(
Free Report)
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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