RFG Advisory LLC Invests $1.12 Million in BlackRock, Inc. (NYSE:BLK)

RFG Advisory LLC bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,183 shares of the asset manager's stock, valued at approximately $1,120,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC purchased a new stake in shares of BlackRock during the fourth quarter worth about $26,000. Investment Management Corp VA ADV acquired a new stake in BlackRock during the 4th quarter valued at approximately $30,000. Collier Financial purchased a new stake in BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new position in shares of BlackRock in the 4th quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is currently owned by company insiders.

BlackRock Trading Down 0.5%

Shares of NYSE BLK opened at $984.18 on Friday. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The company has a market cap of $152.48 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock's 50 day simple moving average is $924.37 and its 200 day simple moving average is $973.80.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period last year, the company earned $9.81 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.12%. BlackRock's dividend payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday. Citigroup reduced their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. TD Cowen lowered their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Bank of America reduced their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Finally, UBS Group decreased their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,082.46.

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.

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