New Century Financial Group LLC Has $227,000 Holdings in BlackRock, Inc. (NYSE:BLK)

New Century Financial Group LLC cut its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 72.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 240 shares of the asset manager's stock after selling 637 shares during the quarter. New Century Financial Group LLC's holdings in BlackRock were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after buying an additional 296 shares during the period. Empowered Funds LLC raised its stake in BlackRock by 15.0% during the fourth quarter. Empowered Funds LLC now owns 3,121 shares of the asset manager's stock valued at $3,199,000 after buying an additional 408 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in BlackRock by 21.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 32,579 shares of the asset manager's stock worth $33,146,000 after purchasing an additional 5,760 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of BlackRock by 0.7% in the 4th quarter. Van ECK Associates Corp now owns 34,257 shares of the asset manager's stock valued at $35,117,000 after buying an additional 242 shares during the period. Finally, Sunburst Financial Group LLC acquired a new position in BlackRock in the fourth quarter valued at approximately $203,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.98% of the company's stock.

BlackRock Trading Down 1.7%

NYSE:BLK traded down $17.01 during mid-day trading on Friday, hitting $971.24. The company had a trading volume of 674,277 shares, compared to its average volume of 689,208. The business's fifty day moving average is $937.84 and its two-hundred day moving average is $972.04. BlackRock, Inc. has a fifty-two week low of $759.99 and a fifty-two week high of $1,084.22. The firm has a market cap of $150.47 billion, a P/E ratio of 23.12, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion during 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%. The company's revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $9.81 earnings per share. As a group, research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared 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. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio is 50.63%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BLK. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. TD Cowen decreased their price target 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 lowered their price objective on shares of 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. Barclays upped their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Finally, Wells Fargo & Company increased their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,082.46.

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.