BlackRock (NYSE:BLK) Stake Lifted by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC raised its holdings in BlackRock (NYSE:BLK - Free Report) by 98.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,804 shares of the asset manager's stock after buying an additional 897 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in BlackRock were worth $1,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Polar Capital Holdings Plc purchased a new stake in BlackRock in the 4th quarter valued at about $15,307,000. Community Financial Services Group LLC grew its holdings in shares of BlackRock by 17.2% during the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after purchasing an additional 836 shares during the period. Kennedy Investment Group purchased a new stake in shares of BlackRock during the 1st quarter worth about $568,000. 3Chopt Investment Partners LLC purchased a new stake in shares of BlackRock during the 1st quarter worth about $578,000. Finally, State of Alaska Department of Revenue grew its holdings in shares of BlackRock by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 17,057 shares of the asset manager's stock worth $16,144,000 after purchasing an additional 457 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Stock Up 1.1%

Shares of BLK traded up $12.09 during trading on Wednesday, reaching $1,087.11. The company's stock had a trading volume of 337,410 shares, compared to its average volume of 694,027. The company has a fifty day moving average of $986.01 and a two-hundred day moving average of $970.03. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,088.28. The company has a market cap of $168.43 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 3.24 and a beta of 1.41. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the prior year, the company posted $9.81 EPS. BlackRock's quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BLK shares. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a report on Tuesday. Morgan Stanley reiterated an "overweight" rating and set a $1,164.00 target price on shares of BlackRock in a report on Tuesday. Argus reiterated a "buy" rating on shares of BlackRock in a report on Tuesday. Barclays boosted their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Finally, Citigroup reduced their price target on 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 research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,108.62.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the company's 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 directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.98% of the company's stock.

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.