Nilsine Partners LLC Increases Position in BlackRock (NYSE:BLK)

Nilsine Partners LLC raised its position in BlackRock (NYSE:BLK - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,838 shares of the asset manager's stock after purchasing an additional 281 shares during the quarter. Nilsine Partners LLC's holdings in BlackRock were worth $2,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marietta Wealth Management LLC purchased a new stake in BlackRock in the first quarter valued at approximately $8,879,000. Norway Savings Bank purchased a new stake in BlackRock in the first quarter valued at approximately $2,288,000. Jamison Private Wealth Management Inc. raised its position in BlackRock by 0.9% in the first quarter. Jamison Private Wealth Management Inc. now owns 5,612 shares of the asset manager's stock valued at $5,311,000 after purchasing an additional 52 shares during the period. Rockline Wealth Management LLC increased its position in shares of BlackRock by 2.1% during the first quarter. Rockline Wealth Management LLC now owns 856 shares of the asset manager's stock worth $810,000 after acquiring an additional 18 shares during the period. Finally, Advisor Resource Council purchased a new stake in shares of BlackRock during the first quarter worth $542,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group cut their price objective 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. Barclays upped their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. TD Cowen cut their price objective 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. Finally, Citigroup lowered their target price on shares of 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 assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,096.31.

Insider Buying and Selling

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 value of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

NYSE BLK opened at $974.60 on Friday. The company has a fifty day moving average of $948.55 and a two-hundred day moving average of $970.38. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The company has a market capitalization of $150.99 billion, a PE ratio of 23.68, a P/E/G ratio of 2.97 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, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business 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 company earned $9.81 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. As a group, analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

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

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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