BlackRock (NYSE:BLK) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in BlackRock (NYSE:BLK - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,049 shares of the asset manager's stock after buying an additional 1,740 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in BlackRock were worth $33,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Amalgamated Bank grew its stake in BlackRock by 1.7% during the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in BlackRock by 4.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock worth $12,793,000 after purchasing an additional 578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in BlackRock by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after purchasing an additional 4,210 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in BlackRock during the 4th quarter worth $15,307,000. Finally, Portland Financial Advisors Inc acquired a new position in BlackRock during the 4th quarter worth $353,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. TD Cowen lowered their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen raised BlackRock to a "hold" rating in a research note on Saturday, May 24th. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Bank of America decreased their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,096.31.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of BlackRock stock traded down $4.92 on Friday, hitting $974.60. The stock had a trading volume of 855,808 shares, compared to its average volume of 691,581. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,084.22. 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 cap of $150.99 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 2.96 and a beta of 1.41. The company's 50 day moving average price is $948.55 and its 200 day moving average price is $969.93.

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, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the business earned $9.81 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

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 $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, June 5th. BlackRock's 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.