Resurgent Financial Advisors LLC Buys Shares of 411 BlackRock (NYSE:BLK)

Resurgent Financial Advisors LLC purchased a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 411 shares of the asset manager's stock, valued at approximately $389,000.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Norges Bank purchased a new position in BlackRock in the fourth quarter worth approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in BlackRock by 401.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after acquiring an additional 876,836 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $572,730,000. Finally, Ameriprise Financial Inc. lifted its position in shares of BlackRock by 18.6% during the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock worth $2,152,907,000 after buying an additional 329,244 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In related 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 $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.98% of the stock is owned by corporate insiders.

BlackRock Price Performance

Shares of NYSE:BLK traded down $1.17 on Friday, reaching $1,104.21. 991,217 shares of the company were exchanged, compared to its average volume of 702,213. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,119.19. The firm has a market cap of $171.07 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.23 and a beta of 1.41. The company has a 50-day moving average of $1,013.56 and a 200-day moving average of $972.96.

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 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 business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the prior year, the company posted $10.36 EPS. The business's revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm 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 was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.89%. BlackRock's dividend payout ratio is presently 50.39%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research 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 research report on Wednesday, April 9th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Finally, Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.

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.