Capital Investment Advisors LLC Has $1.43 Million Position in BlackRock, Inc. (NYSE:BLK)

Capital Investment Advisors LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,506 shares of the asset manager’s stock after purchasing an additional 50 shares during the period. Capital Investment Advisors LLC’s holdings in BlackRock were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in BlackRock by 0.8% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock valued at $1,311,000 after buying an additional 10 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock valued at $377,000 after buying an additional 10 shares during the last quarter. Mascoma Wealth Management LLC raised its holdings in BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager’s stock valued at $130,000 after buying an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager’s stock valued at $542,000 after buying an additional 11 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock valued at $263,000 after buying an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Morgan Stanley lowered their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. TD Cowen lowered their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Barclays raised their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a report on Saturday, May 24th. Three equities 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,082.46.

Insider Activity at BlackRock

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 transaction of $9,125,000.00. Following the transaction, the director now directly owns 66,034 shares of the company’s stock, valued at $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Performance

NYSE:BLK opened at $988.81 on Tuesday. The company has a fifty day moving average of $925.78 and a 200-day moving average of $972.43. The firm has a market capitalization of $153.19 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22.

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

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, June 5th. BlackRock’s payout ratio is currently 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.