Navalign LLC Buys New Position in BlackRock, Inc. (NYSE:BLK)

Navalign LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,845 shares of the asset manager's stock, valued at approximately $1,891,000. BlackRock makes up 0.6% of Navalign LLC's portfolio, making the stock its 29th largest position.

A number of other large investors also recently made changes to their positions in the company. IAG Wealth Partners LLC purchased a new position in BlackRock in the 4th quarter valued at approximately $26,000. Collier Financial bought a new position in BlackRock in the 4th quarter valued at $32,000. Compass Planning Associates Inc purchased a new stake in shares of BlackRock in the 4th quarter valued at about $33,000. Synergy Investment Management LLC bought a new position in shares of BlackRock in the fourth quarter worth approximately $40,000. Finally, Curio Wealth LLC purchased a new stake in BlackRock in the fourth quarter valued at approximately $41,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the 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 completion of the transaction, the director now owns 66,034 shares of the company's stock, valued at $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 12,430 shares of company stock worth $11,237,249 over the last quarter. Insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BLK. TD Cowen dropped 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. Barclays lifted their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. StockNews.com initiated coverage on BlackRock in a research report on Friday, May 16th. They set a "hold" rating for the company. Morgan Stanley dropped their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, Citigroup cut their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.

BlackRock Trading Down 2.5%

Shares of NYSE:BLK opened at $972.33 on Thursday. The stock's 50-day simple moving average is $920.55 and its two-hundred day simple moving average is $978.19. BlackRock, Inc. has a 52-week low of $752.30 and a 52-week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market capitalization of $150.64 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $9.81 EPS. Analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

BlackRock 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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