NBC Securities Inc. Has $1.38 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

NBC Securities Inc. boosted its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 145,500.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,456 shares of the asset manager's stock after purchasing an additional 1,455 shares during the quarter. NBC Securities Inc.'s holdings in BlackRock were worth $1,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. IAG Wealth Partners LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $26,000. Investment Management Corp VA ADV bought a new position in shares of BlackRock during the fourth quarter worth approximately $30,000. Collier Financial bought a new stake in BlackRock in the 4th quarter valued at $32,000. Compass Planning Associates Inc acquired a new position in BlackRock in the 4th quarter valued at $33,000. Finally, Synergy Investment Management LLC acquired a new position in BlackRock in the 4th quarter valued at $40,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of BLK stock traded up $6.75 during trading hours on Wednesday, reaching $988.88. The company's stock had a trading volume of 491,676 shares, compared to its average volume of 688,771. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The firm's 50 day simple moving average is $922.81 and its 200-day simple moving average is $974.15. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $153.20 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.90 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, topping the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the company earned $9.81 EPS. BlackRock's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.11%. BlackRock's payout ratio is currently 50.63%.

Wall Street Analyst Weigh In

BLK has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group cut their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Bank of America decreased their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley dropped their price target on shares of 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. Finally, Citigroup cut their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,082.46.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction on 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 sale, the director now owns 66,034 shares of the company's stock, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.98% of the stock is currently owned by insiders.

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.