Weil Company Inc. Increases Stock Position in BlackRock (NYSE:BLK)

Weil Company Inc. boosted its position in shares of BlackRock (NYSE:BLK - Free Report) by 194.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,074 shares of the asset manager's stock after purchasing an additional 1,370 shares during the quarter. Weil Company Inc.'s holdings in BlackRock were worth $1,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BLK. IAG Wealth Partners LLC bought a new stake in BlackRock during the 4th quarter valued at $26,000. Investment Management Corp VA ADV purchased a new position in shares of BlackRock during the 4th quarter valued at about $30,000. Fairway Wealth LLC raised its stake in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of BlackRock in the 1st quarter valued at about $31,000. Finally, Curio Wealth LLC purchased a new position in shares of BlackRock in the 4th quarter valued at about $41,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TD Cowen cut their price target 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. JPMorgan Chase & Co. cut their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. UBS Group reiterated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group boosted their price objective on BlackRock from $959.00 to $1,210.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,132.29.

BlackRock Price Performance

Shares of BlackRock stock traded down $1.42 on Friday, hitting $1,102.63. 545,380 shares of the company were exchanged, compared to its average volume of 693,792. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,105.72. The stock has a market capitalization of $170.83 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The company has a 50-day moving average price of $996.68 and a 200 day moving average price of $971.03. 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 released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 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 firm had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the prior year, the firm posted $9.81 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio is presently 50.63%.

Insider Buying and Selling

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 value of $9,125,000.00. Following the transaction, the director directly owned 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.