Prudent Man Advisors LLC Buys Shares of 2,132 BlackRock (NYSE:BLK)

Prudent Man Advisors LLC purchased a new position in shares of BlackRock (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,132 shares of the asset manager's stock, valued at approximately $2,018,000. BlackRock accounts for about 0.7% of Prudent Man Advisors LLC's investment portfolio, making the stock its 23rd largest position.

A number of other large investors also recently bought and sold shares of BLK. Fairway Wealth LLC increased its position in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in BlackRock during the 4th quarter valued at $30,000. MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the 1st quarter valued at $31,000. Curio Wealth LLC acquired a new stake in BlackRock during the 4th quarter valued at $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in BlackRock during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BLK shares. Jefferies Financial Group raised their price target on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Citigroup decreased 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. Wells Fargo & Company decreased 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. Finally, Barclays raised their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,151.21.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock 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 sale, the director directly owned 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

Shares of BlackRock stock traded up $36.28 during trading hours on Wednesday, reaching $1,082.44. The company's stock had a trading volume of 1,407,097 shares, compared to its average volume of 700,519. The company's 50 day simple moving average is $1,003.13 and its 200 day simple moving average is $971.46. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a one year low of $773.74 and a one year high of $1,112.13. The stock has a market cap of $167.70 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 2.12 and a beta of 1.41.

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

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.93%. BlackRock's dividend payout ratio is presently 50.63%.

About BlackRock

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.