Private Advisor Group LLC Has $10.69 Million Stake in BlackRock (NYSE:BLK)

Private Advisor Group LLC trimmed its stake in BlackRock (NYSE:BLK - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,296 shares of the asset manager's stock after selling 245 shares during the period. Private Advisor Group LLC's holdings in BlackRock were worth $10,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BLK. Fairway Wealth LLC grew its position in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of BlackRock during the 4th quarter worth about $30,000. MorganRosel Wealth Management LLC bought a new position in shares of BlackRock during the 1st quarter worth about $31,000. Cedar Wealth Management LLC bought a new position in shares of BlackRock during the 4th quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of BlackRock during the 4th quarter worth about $43,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

BLK traded down $1.17 during midday trading on Friday, hitting $1,104.21. The company had a trading volume of 991,217 shares, compared to its average volume of 702,213. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The company has a market capitalization of $171.07 billion, a PE ratio of 26.70, a P/E/G ratio of 2.23 and a beta of 1.41. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,119.19. The firm's 50-day simple moving average is $1,013.56 and its 200-day simple moving average is $972.96.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $10.36 EPS. Equities research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, June 5th. BlackRock's payout ratio is presently 50.39%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup reduced their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a report on Wednesday. TD Cowen reduced their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Finally, Wells Fargo & Company reduced their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm's 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 sale, the director owned 66,034 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Insiders own 1.98% of the company's stock.

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.