Reliant Investment Management LLC lowered its holdings in BlackRock, Inc. (NYSE:BLK) by 1.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,317 shares of the asset manager’s stock after selling 105 shares during the period. BlackRock comprises 3.4% of Reliant Investment Management LLC’s portfolio, making the stock its 8th largest position. Reliant Investment Management LLC’s holdings in BlackRock were worth $4,505,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of BLK. Summit Trail Advisors LLC boosted its holdings in BlackRock by 53,902.3% in the first quarter. Summit Trail Advisors LLC now owns 1,274,454 shares of the asset manager’s stock valued at $1,274,000 after purchasing an additional 1,272,094 shares during the last quarter. FIL Ltd lifted its holdings in BlackRock by 386.0% during the 1st quarter. FIL Ltd now owns 322,223 shares of the asset manager’s stock worth $174,555,000 after buying an additional 255,927 shares during the last quarter. BlackRock Inc. lifted its holdings in BlackRock by 2.6% during the 1st quarter. BlackRock Inc. now owns 7,447,936 shares of the asset manager’s stock worth $4,034,698,000 after buying an additional 192,139 shares during the last quarter. Fred Alger Management Inc. lifted its holdings in BlackRock by 2,347.6% during the 4th quarter. Fred Alger Management Inc. now owns 185,965 shares of the asset manager’s stock worth $95,532,000 after buying an additional 178,367 shares during the last quarter. Finally, CAMG Solamere Management LLC lifted its holdings in BlackRock by 6,380.8% during the 1st quarter. CAMG Solamere Management LLC now owns 175,564 shares of the asset manager’s stock worth $1,200,000 after buying an additional 172,855 shares during the last quarter. 83.50% of the stock is owned by hedge funds and other institutional investors.
In related news, Director William E. Ford purchased 1,000 shares of the company’s stock in a transaction dated 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeff A. Smith sold 500 shares of the stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $515.84, for a total value of $257,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,066 shares of company stock worth $558,514 over the last quarter. Insiders own 1.75% of the company’s stock.
Shares of BlackRock traded up $2.62, reaching $529.23, on Wednesday, Marketbeat Ratings reports. 1,574 shares of the company were exchanged, compared to its average volume of 493,552. 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 stock has a market capitalization of $84.50 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.59 and a beta of 1.67. BlackRock, Inc. has a 1-year low of $408.62 and a 1-year high of $594.52.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share for the quarter, topping analysts’ consensus estimates of $6.39 by $0.31. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. BlackRock had a return on equity of 12.76% and a net margin of 39.22%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.25 EPS. sell-side analysts predict that BlackRock, Inc. will post 28.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th will be given a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, June 6th. BlackRock’s payout ratio is 50.97%.
A number of research analysts have commented on BLK shares. Credit Suisse Group increased their target price on BlackRock from $678.00 to $682.00 and gave the stock an “outperform” rating in a report on Friday, April 13th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. ValuEngine downgraded BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Citigroup raised BlackRock from a “neutral” rating to a “buy” rating in a report on Monday. Finally, Deutsche Bank reduced their target price on BlackRock to $623.00 and set a “buy” rating on the stock in a report on Tuesday, March 6th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $576.33.
BlackRock Company 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.
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