Quattro Financial Advisors LLC Takes $525,000 Position in BlackRock (NYSE:BLK)

Quattro Financial Advisors LLC acquired a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 555 shares of the asset manager's stock, valued at approximately $525,000.

Other institutional investors also recently made changes to their positions in the company. IAG Wealth Partners LLC purchased a new stake in BlackRock during the 4th quarter worth $26,000. Investment Management Corp VA ADV purchased a new stake in BlackRock during the 4th quarter worth $30,000. MorganRosel Wealth Management LLC purchased a new stake in BlackRock during the 1st quarter worth $31,000. Curio Wealth LLC purchased a new stake in BlackRock during the 4th quarter worth $41,000. Finally, Cedar Wealth Management LLC purchased a new stake in BlackRock during the 4th quarter worth $43,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BLK. Argus upped their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Morgan Stanley upped their price objective on shares of BlackRock from $1,111.00 to $1,164.00 and gave the company an "overweight" rating in a research report on Wednesday. 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 research report on Monday, April 14th. Finally, Wells Fargo & Company upped their price objective on shares of BlackRock from $1,105.00 to $1,180.00 and gave the company an "overweight" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,110.92.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was 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 of the company's stock, valued at $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 available at this link. Company insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of BlackRock stock traded up $5.71 on Friday, reaching $1,076.28. 342,684 shares of the company were exchanged, compared to its average volume of 696,095. The company's 50-day moving average is $979.68 and its two-hundred day moving average is $969.29. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,084.22. The firm has a market cap of $166.75 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 3.26 and a beta of 1.41. 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 (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same period last year, the firm earned $9.81 EPS. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 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.