Aspen Investment Management Inc acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 385 shares of the asset manager’s stock, valued at approximately $209,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BLK. Victory Capital Management Inc. lifted its stake in BlackRock by 7.9% in the fourth quarter. Victory Capital Management Inc. now owns 8,663 shares of the asset manager’s stock valued at $4,450,000 after buying an additional 634 shares during the last quarter. Global X Management Co. LLC increased its holdings in shares of BlackRock by 105.6% in the fourth quarter. Global X Management Co. LLC now owns 1,865 shares of the asset manager’s stock valued at $958,000 after purchasing an additional 958 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of BlackRock by 7.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 28,166 shares of the asset manager’s stock valued at $14,469,000 after purchasing an additional 2,036 shares during the period. Rhumbline Advisers increased its holdings in shares of BlackRock by 1.8% in the fourth quarter. Rhumbline Advisers now owns 238,302 shares of the asset manager’s stock valued at $122,418,000 after purchasing an additional 4,154 shares during the period. Finally, Stearns Financial Services Group acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $208,000. Institutional investors own 83.76% of the company’s stock.
In related news, insider Jeff A. Smith sold 500 shares of the company’s stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $515.84, for a total transaction of $257,920.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William E. Ford acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The shares were acquired at an average cost of $530.95 per share, for a total transaction of $530,950.00. The disclosure for this purchase can be found here. Insiders have sold 1,066 shares of company stock worth $558,514 in the last ninety days. 1.86% of the stock is currently owned by corporate insiders.
A number of research analysts have recently issued reports on BLK shares. Deutsche Bank dropped their target price on BlackRock from $623.00 to $614.00 and set a “buy” rating on the stock in a report on Friday, April 6th. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. ValuEngine lowered BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Credit Suisse Group boosted their target price on BlackRock from $678.00 to $682.00 and gave the company an “outperform” rating in a report on Friday, April 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $640.00 target price on shares of BlackRock in a report on Wednesday, March 14th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $566.62.
Shares of BlackRock opened at $524.52 on Monday, Marketbeat Ratings reports. BlackRock, Inc. has a 1-year low of $408.62 and a 1-year high of $594.52. The firm has a market cap of $84.01 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 1.58 and a beta of 1.67. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.02.
BlackRock (NYSE:BLK) last announced its quarterly earnings data 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. BlackRock had a return on equity of 12.76% and a net margin of 39.22%. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the company posted $5.25 earnings per share. BlackRock’s quarterly revenue was up 15.9% on a year-over-year basis. equities analysts predict that BlackRock, Inc. will post 28.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Thursday, June 7th will be issued a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, June 6th. BlackRock’s dividend payout ratio is presently 50.97%.
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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