Vaughan David Investments LLC IL grew its stake in BlackRock, Inc. (NYSE:BLK) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,826 shares of the asset manager’s stock after purchasing an additional 653 shares during the quarter. Vaughan David Investments LLC IL’s holdings in BlackRock were worth $22,149,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of BLK. WESPAC Advisors SoCal LLC bought a new position in shares of BlackRock in the fourth quarter valued at approximately $25,000. Hanson McClain Inc. lifted its holdings in BlackRock by 425.0% during the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after acquiring an additional 51 shares during the period. Ellis Investment Partners LLC bought a new stake in BlackRock during the first quarter worth $26,000. Valley National Advisers Inc. lifted its holdings in BlackRock by 81.8% during the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after acquiring an additional 27 shares during the period. Finally, Private Ocean LLC lifted its holdings in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after acquiring an additional 62 shares during the period. Institutional investors own 80.49% of the company’s stock.
BLK has been the topic of a number of recent analyst reports. Bank of America reiterated a “buy” rating and set a $498.00 price target (up from $490.00) on shares of BlackRock in a report on Friday, March 8th. Deutsche Bank lifted their price target on BlackRock from $428.00 to $431.00 and gave the stock a “hold” rating in a report on Friday, March 15th. Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Jefferies Financial Group upgraded BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price target on the stock in a report on Tuesday, January 29th. Finally, Barclays lifted their price target on BlackRock from $472.00 to $490.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $509.38.
In other news, COO Robert L. Goldstein sold 5,133 shares of BlackRock stock in a transaction on Monday, March 4th. The stock was sold at an average price of $443.00, for a total value of $2,273,919.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gary Shedlin sold 2,750 shares of BlackRock stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total value of $1,286,972.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,658 shares of company stock worth $18,864,994. Corporate insiders own 1.42% of the company’s stock.
Shares of BLK traded up $1.50 during mid-day trading on Friday, hitting $435.39. The stock had a trading volume of 5,366 shares, compared to its average volume of 506,545. The firm has a market cap of $67.51 billion, a PE ratio of 16.22, a PEG ratio of 1.59 and a beta of 1.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $557.00.
BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.13 by $0.48. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.30 billion. BlackRock had a return on equity of 13.46% and a net margin of 30.58%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $6.48 earnings per share. Sell-side analysts anticipate that BlackRock, Inc. will post 27.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.03%. BlackRock’s payout ratio is presently 49.02%.
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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