Nicholas Hoffman & Company LLC. raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.2% in the first quarter, HoldingsChannel reports. The firm owned 1,022 shares of the asset manager’s stock after acquiring an additional 32 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in BlackRock were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in BlackRock by 3.7% during the 1st quarter. BlackRock Inc. now owns 8,255,110 shares of the asset manager’s stock valued at $3,632,002,000 after purchasing an additional 295,599 shares during the period. State Street Corp lifted its stake in shares of BlackRock by 0.5% in the 4th quarter. State Street Corp now owns 5,114,928 shares of the asset manager’s stock worth $2,571,274,000 after acquiring an additional 24,900 shares during the period. Norges Bank acquired a new stake in shares of BlackRock in the 4th quarter worth approximately $1,218,129,000. Capital International Investors lifted its stake in shares of BlackRock by 75.6% in the 4th quarter. Capital International Investors now owns 1,798,139 shares of the asset manager’s stock worth $903,924,000 after acquiring an additional 774,309 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of BlackRock by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,618,357 shares of the asset manager’s stock worth $811,672,000 after acquiring an additional 58,660 shares during the period. 81.50% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on BLK. Deutsche Bank upped their price target on shares of BlackRock from $487.00 to $488.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Morgan Stanley upped their price target on shares of BlackRock from $515.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $526.00 to $524.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. BMO Capital Markets upped their price target on shares of BlackRock from $386.00 to $441.00 and gave the stock a “market perform” rating in a research note on Friday, April 17th. They noted that the move was a valuation call. Finally, Credit Suisse Group increased their target price on shares of BlackRock from $534.00 to $552.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $510.91.
Shares of BLK stock traded up $4.79 during trading hours on Friday, reaching $513.30. 632,652 shares of the stock traded hands, compared to its average volume of 2,400,958. BlackRock, Inc. has a 1-year low of $323.98 and a 1-year high of $576.81. The business has a fifty day moving average price of $476.24 and a 200 day moving average price of $489.56. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $78.44 billion, a PE ratio of 17.84, a PEG ratio of 1.96 and a beta of 1.28.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Thursday, April 16th. The asset manager reported $6.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.36 by $0.24. BlackRock had a net margin of 28.38% and a return on equity of 13.62%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the business earned $6.61 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. Research analysts expect that BlackRock, Inc. will post 25.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a dividend of $3.63 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.83%. BlackRock’s dividend payout ratio is currently 50.98%.
In other news, COO Robert L. Goldstein sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $497.36, for a total transaction of $795,776.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Robert Kapito sold 88,799 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $476.98, for a total transaction of $42,355,347.02. The disclosure for this sale can be found here. Insiders have sold 97,845 shares of company stock worth $46,894,663 in the last 90 days. 1.42% of the stock is owned by company insiders.
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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