Pacific Point Advisors LLC Takes $446,000 Position in BlackRock, Inc. (NYSE:BLK)

Pacific Point Advisors LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 439 shares of the asset manager's stock, valued at approximately $446,000.

Other hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank increased its position in shares of BlackRock by 1.7% in the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after purchasing an additional 489 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of BlackRock by 4.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock valued at $12,793,000 after purchasing an additional 578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock valued at $67,038,000 after purchasing an additional 4,210 shares in the last quarter. E. Ohman J or Asset Management AB acquired a new position in shares of BlackRock in the fourth quarter worth approximately $46,284,000. Finally, Blue Square Asset Management LLC acquired a new position in shares of BlackRock in the fourth quarter worth approximately $3,243,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares of the company's stock, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 12,430 shares of company stock worth $11,237,249. 1.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Wall Street Zen started coverage on BlackRock in a research report on Friday, May 16th. They issued a "hold" rating on the stock. Bank of America cut their price objective on 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. JPMorgan Chase & Co. cut their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Barclays raised their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,077.08.

BlackRock Stock Down 0.3%

Shares of BLK opened at $969.56 on Friday. 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, Inc. has a one year low of $752.30 and a one year high of $1,084.22. The stock has a market capitalization of $150.21 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 1.90 and a beta of 1.41. The stock has a 50 day moving average price of $920.79 and a 200 day moving average price of $978.04.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.81 EPS. Equities research analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.15%. BlackRock's 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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