BlackRock (NYSE:BLK) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in shares of BlackRock (NYSE:BLK - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,057 shares of the asset manager's stock after purchasing an additional 457 shares during the quarter. State of Alaska Department of Revenue's holdings in BlackRock were worth $16,144,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. Norges Bank acquired a new stake in BlackRock in the fourth quarter valued at approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 valued at $1,122,743,000 after buying an additional 876,836 shares in the last quarter. Proficio Capital Partners LLC grew its stake in BlackRock by 138,682.5% in the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after acquiring an additional 633,779 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new position in BlackRock during the fourth quarter worth $572,730,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research reports. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. TD Cowen lowered their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. UBS Group reduced their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company upped their target price 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. Finally, Citigroup lowered 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,096.31.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction on 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 completion of the transaction, the director now owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.98% of the company's stock.

BlackRock Trading Up 0.9%

NYSE BLK traded up $8.70 during trading hours on Wednesday, reaching $977.88. The company had a trading volume of 662,589 shares, compared to its average volume of 690,015. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $151.50 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 2.99 and a beta of 1.41. The stock has a 50-day moving average of $942.61 and a 200 day moving average of $971.07. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data 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. 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 analysts' expectations of $5.47 billion. During the same quarter last year, the company posted $9.81 EPS. The firm's quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that BlackRock 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. Investors of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is 50.63%.

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.