RFG Advisory Group LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 382 shares of the asset manager’s stock, valued at approximately $207,000.
A number of other hedge funds have also bought and sold shares of BLK. Schwab Charles Investment Management Inc. grew its position in BlackRock by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 437,350 shares of the asset manager’s stock worth $224,672,000 after acquiring an additional 19,152 shares in the last quarter. Acadian Asset Management LLC grew its position in BlackRock by 284.8% in the fourth quarter. Acadian Asset Management LLC now owns 2,778 shares of the asset manager’s stock worth $1,427,000 after acquiring an additional 2,056 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of BlackRock during the 4th quarter worth $1,500,000. Flagship Harbor Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter worth $231,000. Finally, Boston Advisors LLC boosted its holdings in shares of BlackRock by 46.1% during the 4th quarter. Boston Advisors LLC now owns 811 shares of the asset manager’s stock worth $416,000 after buying an additional 256 shares during the period. 83.36% of the stock is owned by institutional investors.
Shares of BlackRock opened at $539.61 on Friday, Marketbeat Ratings reports. The stock has a market cap of $86.62 billion, a P/E ratio of 22.44, a PEG ratio of 1.63 and a beta of 1.67. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 1.02. BlackRock, Inc. has a 12-month low of $403.12 and a 12-month high of $594.52.
BlackRock (NYSE:BLK) last announced its earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.39 by $0.31. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $5.25 EPS. equities research analysts forecast that BlackRock, Inc. will post 28.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 21st. Investors 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 2.13%. The ex-dividend date of this dividend is Wednesday, June 6th. BlackRock’s dividend payout ratio (DPR) is currently 50.97%.
Several analysts recently issued reports on BLK shares. Credit Suisse Group upped their price objective on shares of BlackRock from $672.00 to $678.00 and gave the stock an “outperform” rating in a report on Thursday, April 5th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $640.00 price objective on shares of BlackRock in a report on Wednesday, March 14th. Deutsche Bank decreased their price objective on shares of BlackRock to $623.00 and set a “buy” rating for the company in a report on Tuesday, March 6th. ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, Zacks Investment Research downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $566.62.
In other news, Director William E. Ford bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The stock was acquired at an average price of $530.95 per share, for a total transaction of $530,950.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $558.00, for a total transaction of $2,790,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,066 shares of company stock valued at $3,348,514 in the last quarter. 1.86% of the stock is currently owned by corporate insiders.
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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