First Financial Bank Trust Division purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,790 shares of the asset manager's stock, valued at approximately $1,694,000. Get BlackRock alerts: Sign Up Several other hedge funds and other institutional investors have also made changes to their positions in BLK.
Fire Capital Management LLC bought a new position in shares of BlackRock during the 4th quarter worth approximately $1,016,000. Chancellor Financial Group WB LP bought a new stake in shares of BlackRock during the fourth quarter worth approximately $325,000. Objective Capital Management LLC bought a new position in BlackRock during the 4th quarter worth $377,000.
Wealth Enhancement Advisory Services LLC increased its position in BlackRock by 4.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,309 shares of the asset manager's stock worth $34,145,000 after acquiring an additional 1,364 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its position in shares of BlackRock by 0.3% in the fourth quarter.
NorthCrest Asset Manangement LLC now owns 25,562 shares of the asset manager's stock valued at $26,204,000 after buying an additional 82 shares in the last quarter. 80.69% of the stock is owned by institutional investors. Analyst Ratings Changes A number of equities research analysts have issued reports on the stock.
Wells Fargo & Company reduced their price objective on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. TD Cowen cut their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. UBS Group reduced their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th.
Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, Morgan Stanley reduced their price objective on shares of 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock.
Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,077.08. Check Out Our Latest Analysis on BLK Insider Activity In related news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction 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 approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Company insiders own 1.98% of the company's stock. BlackRock Stock Performance Shares of BLK traded up $1.63 during trading hours on Friday, hitting $977.95. The company's stock had a trading volume of 1,060,907 shares, compared to its average volume of 694,626.
The company has a market cap of $151.51 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The business has a 50 day simple moving average of $922.34 and a two-hundred day simple moving average of $975.46.
BlackRock, Inc. has a 52-week low of $752.30 and a 52-week high of $1,084.22. BlackRock (NYSE:BLK – Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.84 by $0.46.
The business had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year.
During the same quarter in the previous year, the firm posted $9.81 EPS. On average, equities analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year. BlackRock Dividend Announcement The business 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 2.13%. The ex-dividend date is Thursday, June 5th.
BlackRock's payout ratio is presently 50.63%. About BlackRock 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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