Sowell Financial Services LLC acquired a new stake 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 acquired 816 shares of the asset manager's stock, valued at approximately $772,000.
A number of other institutional investors have also recently made changes to their positions in BLK. IAG Wealth Partners LLC acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV acquired a new position in BlackRock during the 4th quarter worth approximately $30,000. Compass Planning Associates Inc acquired a new position in BlackRock during the 4th quarter worth approximately $33,000. Synergy Investment Management LLC acquired a new position in BlackRock during the 4th quarter worth approximately $40,000. Finally, Curio Wealth LLC acquired a new position in BlackRock during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 80.69% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on BLK shares. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. TD Cowen lowered their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. UBS Group lowered 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. Morgan Stanley reduced their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Finally, Bank of America reduced their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,096.31.
Read Our Latest Report on BlackRock
BlackRock Stock Performance
BLK stock traded down $4.92 on Friday, hitting $974.60. The company's stock had a trading volume of 855,808 shares, compared to its average volume of 692,307. The firm has a 50 day moving average of $946.64 and a two-hundred day moving average of $970.82. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The stock has a market cap of $150.99 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 2.97 and a beta of 1.41. 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 (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the prior year, the firm earned $9.81 EPS. BlackRock's revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Announces Dividend
The firm also recently declared 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 of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.14%. BlackRock's dividend payout ratio (DPR) is 50.63%.
Insider Activity at BlackRock
In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.
About BlackRock
(
Free Report)
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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