Perennial Advisors LLC Buys Shares of 262 BlackRock, Inc. (NYSE:BLK)

Perennial Advisors LLC bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 262 shares of the asset manager's stock, valued at approximately $248,000.

Several other institutional investors have also recently bought and sold shares of BLK. IAG Wealth Partners LLC bought a new stake in BlackRock in the 4th quarter valued at approximately $26,000. Investment Management Corp VA ADV bought a new stake in BlackRock in the 4th quarter valued at approximately $30,000. Collier Financial bought a new stake in BlackRock in the 4th quarter valued at approximately $32,000. Compass Planning Associates Inc bought a new stake in BlackRock in the 4th quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC bought a new stake in shares of BlackRock during the 4th quarter worth approximately $40,000. Institutional investors own 80.69% of the company's stock.

BlackRock Trading Up 0.5%

Shares of BlackRock stock opened at $990.26 on Friday. The business has a fifty day simple moving average of $925.28 and a two-hundred day simple moving average of $973.18. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The company has a market capitalization of $153.42 billion, a price-to-earnings ratio of 23.58, 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 current ratio of 5.23 and a quick 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 for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the firm earned $9.81 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders 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 dividend yield of 2.10%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock 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 completion of the sale, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wells Fargo & Company increased their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, Citigroup cut their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,082.46.

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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