Morningstar Investment Services LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 9.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,520 shares of the asset manager’s stock after purchasing an additional 3,267 shares during the quarter. Morningstar Investment Services LLC’s holdings in BlackRock were worth $19,784,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Natixis Advisors L.P. lifted its stake in shares of BlackRock by 7.1% during the first quarter. Natixis Advisors L.P. now owns 28,825 shares of the asset manager’s stock valued at $15,615,000 after buying an additional 1,913 shares during the period. Covington Investment Advisors Inc. purchased a new position in shares of BlackRock during the first quarter valued at approximately $5,566,000. Stratos Wealth Partners LTD. lifted its stake in shares of BlackRock by 8.2% during the first quarter. Stratos Wealth Partners LTD. now owns 1,498 shares of the asset manager’s stock valued at $812,000 after buying an additional 114 shares during the period. Providence Capital Advisors LLC lifted its stake in shares of BlackRock by 4.8% during the first quarter. Providence Capital Advisors LLC now owns 4,033 shares of the asset manager’s stock valued at $2,185,000 after buying an additional 183 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of BlackRock by 37.3% during the first quarter. Toronto Dominion Bank now owns 70,046 shares of the asset manager’s stock valued at $37,935,000 after buying an additional 19,044 shares during the period. Institutional investors and hedge funds own 83.36% of the company’s stock.
In other news, insider Marc D. Comerchero sold 400 shares of the firm’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $524.84, for a total value of $209,936.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 166 shares of the firm’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $546.13, for a total transaction of $90,657.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,066 shares of company stock worth $3,348,514. 1.86% of the stock is currently owned by insiders.
BlackRock opened at $539.61 on Friday, Marketbeat.com reports. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.02. The company has a market cap of $86.62 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.63 and a beta of 1.67. BlackRock, Inc. has a fifty-two week low of $403.12 and a fifty-two week high of $594.52.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.39 by $0.31. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. BlackRock’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $5.25 earnings per share. equities analysts predict that BlackRock, Inc. will post 28.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Shareholders of record on Thursday, June 7th will be paid a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Wednesday, June 6th. BlackRock’s dividend payout ratio is currently 50.97%.
Several equities analysts recently issued reports on the stock. Credit Suisse Group upped their price objective on shares of BlackRock from $678.00 to $682.00 and gave the company an “outperform” rating in a research note on Friday, April 13th. Deutsche Bank reduced their price objective on shares of BlackRock from $623.00 to $614.00 and set a “buy” rating on the stock in a research note on Friday, April 6th. Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Thursday, March 29th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $640.00 price objective on shares of BlackRock in a research note on Wednesday, March 14th. Finally, ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $566.62.
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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