Westwood Holdings Group Inc. purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,183 shares of the asset manager's stock, valued at approximately $3,263,000.
Other institutional investors and hedge funds have also modified their holdings of the company. IAG Wealth Partners LLC purchased a new position in shares of BlackRock during the fourth quarter valued at $26,000. Collier Financial acquired a new stake in BlackRock during the fourth quarter valued at $32,000. Compass Planning Associates Inc acquired a new stake in BlackRock during the fourth quarter valued at $33,000. Atwood & Palmer Inc. acquired a new stake in BlackRock during the fourth quarter valued at $36,000. Finally, Synergy Investment Management LLC acquired a new stake in BlackRock during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 80.69% of the company's stock.
BlackRock Stock Performance
Shares of BlackRock stock traded down $5.34 during trading on Friday, reaching $964.56. The company's stock had a trading volume of 517,434 shares, compared to its average volume of 692,873. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The business's fifty day moving average price is $920.93 and its 200-day moving average price is $977.70. The firm has a market cap of $149.43 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a one year low of $752.30 and a one 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 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the previous year, the company posted $9.81 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.
BlackRock Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be paid a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.16%. BlackRock's dividend payout ratio is 50.63%.
Analyst Ratings Changes
BLK has been the subject of a number of research reports. Morgan Stanley reduced their price objective on 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. Bank of America reduced their price objective on 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. JPMorgan Chase & Co. cut their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded BlackRock to a "hold" rating in a report on Saturday. Finally, Wells Fargo & Company cut their target price on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,077.08.
Check Out Our Latest Stock Report on BLK
Insider Activity at BlackRock
In other BlackRock news, Director J. Richard Kushel sold 430 shares of BlackRock stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the sale, the director now directly owns 3,720 shares of the company's stock, valued at approximately $3,531,656.40. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 12,430 shares of company stock worth $11,237,249 over the last three months. Company insiders own 1.98% of the company's stock.
BlackRock Company Profile
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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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