YHB Investment Advisors Inc. Makes New Investment in BlackRock (NYSE:BLK)

YHB Investment Advisors Inc. acquired a new stake in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,072 shares of the asset manager's stock, valued at approximately $2,908,000.

Several other institutional investors have also recently modified their holdings of BLK. GAMMA Investing LLC raised its position in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Norges Bank purchased a new position in BlackRock during the fourth quarter worth about $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 purchasing an additional 876,836 shares during the period. Proficio Capital Partners LLC grew its position 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 in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in BlackRock during the 4th quarter worth approximately $572,730,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Up 1.8%

NYSE BLK traded up $18.20 on Tuesday, reaching $1,004.50. The stock had a trading volume of 697,976 shares, compared to its average volume of 691,415. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The business has a 50 day moving average price of $950.45 and a 200 day moving average price of $969.00. 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 company has a market capitalization of $155.63 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 2.96 and a beta of 1.41.

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 company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period last year, the company earned $9.81 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.07%. The ex-dividend date was Thursday, June 5th. BlackRock's payout ratio is currently 50.63%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock 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 now directly owns 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% 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 own 1.98% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BLK. UBS Group cut their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Barclays upped their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Wells Fargo & Company boosted their target price on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. Finally, Citigroup decreased their price objective 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 research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,096.31.

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.