1,648 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Salvus Wealth Management LLC

Salvus Wealth Management LLC purchased a new position in BlackRock, Inc. (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,648 shares of the asset manager's stock, valued at approximately $1,560,000.

Several other institutional investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC bought a new position in BlackRock in the fourth quarter valued at $26,000. Investment Management Corp VA ADV bought a new position in BlackRock in the fourth quarter valued at $30,000. Collier Financial bought a new position in BlackRock in the fourth quarter valued at $32,000. Compass Planning Associates Inc bought a new position in BlackRock in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC bought a new position in BlackRock in the fourth quarter valued at $40,000. Institutional investors own 80.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley reduced their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. UBS Group cut 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 research report on Friday, April 11th. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, Barclays upped their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,082.46.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company'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 now directly owns 66,034 shares of the company's stock, valued at $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by company insiders.

BlackRock Trading Down 0.5%

Shares of BlackRock stock traded down $4.79 during trading on Thursday, reaching $984.18. 479,363 shares of the stock were exchanged, compared to its average volume of 688,618. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock's fifty day moving average is $923.63 and its 200 day moving average is $974.25. The firm 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. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22.

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

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.12%. BlackRock's dividend payout ratio is currently 50.63%.

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.