Motiv8 Investments LLC Makes New Investment in BlackRock (NYSE:BLK)

Motiv8 Investments LLC bought a new position in BlackRock (NYSE:BLK - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,063 shares of the asset manager's stock, valued at approximately $1,006,000.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after purchasing an additional 296 shares during the last quarter. IFP Advisors Inc lifted its holdings in BlackRock by 18.8% in the fourth quarter. IFP Advisors Inc now owns 1,956 shares of the asset manager's stock valued at $2,008,000 after buying an additional 309 shares during the period. Los Angeles Capital Management LLC boosted its stake in BlackRock by 5.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 6,206 shares of the asset manager's stock valued at $6,362,000 after acquiring an additional 300 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in BlackRock by 197.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 10,446 shares of the asset manager's stock worth $10,708,000 after acquiring an additional 6,938 shares during the period. Finally, Delta Financial Advisors LLC raised its position in shares of BlackRock by 3.0% during the 4th quarter. Delta Financial Advisors LLC now owns 3,833 shares of the asset manager's stock valued at $3,930,000 after acquiring an additional 113 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,019.43 on Thursday. The company has a fifty day moving average price of $955.81 and a 200 day moving average price of $969.60. The firm has a market cap of $157.94 billion, a PE ratio of 24.77, a PEG ratio of 3.05 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 has a 1-year low of $773.74 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data 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. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the prior year, the firm earned $9.81 earnings per share. BlackRock's revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid 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 dividend yield of 2.04%. BlackRock's dividend payout ratio is currently 50.63%.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the transaction, the director now owns 66,034 shares in the company, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen reduced their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley decreased their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Argus increased their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Bank of America decreased their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, UBS Group cut 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 report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,096.31.

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.

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