BlackRock, Inc. (NYSE:BLK) Shares Acquired by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,473 shares of the asset manager’s stock after acquiring an additional 240 shares during the quarter. BlackRock makes up approximately 0.9% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 28th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in BlackRock were worth $14,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after buying an additional 296 shares during the last quarter. Empowered Funds LLC boosted its position in shares of BlackRock by 15.0% in the fourth quarter. Empowered Funds LLC now owns 3,121 shares of the asset manager’s stock worth $3,199,000 after acquiring an additional 408 shares during the last quarter. Focus Financial Network Inc. purchased a new stake in BlackRock in the fourth quarter valued at approximately $627,000. Essex Financial Services Inc. acquired a new position in BlackRock during the fourth quarter worth approximately $818,000. Finally, Sovran Advisors LLC acquired a new position in BlackRock during the fourth quarter worth approximately $681,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.1%

Shares of BLK opened at $993.30 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a one year low of $758.20 and a one year high of $1,084.22. The stock has a 50-day moving average price of $931.30 and a 200 day moving average price of $972.72. The company has a market capitalization of $153.89 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.81 earnings per share. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, June 5th. BlackRock’s dividend payout ratio is presently 50.63%.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares of the company’s stock, valued at $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 SEC, which is available through this link. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLK. Citigroup lowered their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Morgan Stanley reduced their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, Barclays increased their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,082.46.

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.