Quattro Financial Advisors LLC Makes New $525,000 Investment in BlackRock (NYSE:BLK)

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Adell Harriman & Carpenter Inc. acquired a new position in BlackRock in the first quarter worth $7,989,000. Concurrent Investment Advisors LLC boosted its holdings in BlackRock by 64.7% in the first quarter. Concurrent Investment Advisors LLC now owns 7,063 shares of the asset manager's stock worth $6,685,000 after purchasing an additional 2,774 shares during the period. Braun Stacey Associates Inc. boosted its holdings in BlackRock by 1.0% in the first quarter. Braun Stacey Associates Inc. now owns 24,244 shares of the asset manager's stock worth $22,946,000 after purchasing an additional 230 shares during the period. HM Payson & Co. boosted its holdings in BlackRock by 7.7% in the first quarter. HM Payson & Co. now owns 1,355 shares of the asset manager's stock worth $1,282,000 after purchasing an additional 97 shares during the period. Finally, World Investment Advisors boosted its holdings in BlackRock by 9.4% in the first quarter. World Investment Advisors now owns 3,955 shares of the asset manager's stock worth $3,743,000 after purchasing an additional 339 shares during the period. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

Shares of NYSE BLK traded up $5.71 during midday trading on Friday, reaching $1,076.28. 342,684 shares of the company traded hands, compared to its average volume of 696,095. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22. The stock has a 50-day moving average price of $979.68 and a 200 day moving average price of $969.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The company has a market cap of $166.75 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 3.26 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the previous year, the business earned $9.81 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared 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 1.94%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business'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 sale, the director directly owned 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a report on Friday, June 27th. UBS Group reduced their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,105.00 to $1,180.00 and gave the company an "overweight" rating in a report on Thursday. Citigroup reduced their price target 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. Finally, Wall Street Zen raised shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,110.92.

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.