BlackRock, Inc. (NYSE:BLK) Shares Acquired by PFW Advisors LLC

PFW Advisors LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,518 shares of the asset manager’s stock after acquiring an additional 14 shares during the period. PFW Advisors LLC’s holdings in BlackRock were worth $2,383,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bangor Savings Bank purchased a new position in shares of BlackRock in the 1st quarter valued at approximately $1,482,000. SOA Wealth Advisors LLC. grew its stake in shares of BlackRock by 9,757.7% in the 1st quarter. SOA Wealth Advisors LLC. now owns 15,378 shares of the asset manager’s stock valued at $14,555,000 after purchasing an additional 15,222 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of BlackRock in the 1st quarter valued at approximately $439,000. Patriot Financial Group Insurance Agency LLC grew its stake in shares of BlackRock by 5.2% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,250 shares of the asset manager’s stock valued at $1,183,000 after purchasing an additional 62 shares during the last quarter. Finally, Charter Oak Capital Management LLC purchased a new position in shares of BlackRock in the 1st quarter valued at approximately $269,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wall Street Zen upgraded BlackRock to a “hold” rating in a research note on Saturday, May 24th. Wells Fargo & Company lifted their price target on BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays lifted their price target on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Finally, Bank of America decreased their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,082.46.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was 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 directly 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 legal filing with the SEC, which is available through the SEC website. Insiders own 1.98% of the company’s stock.

BlackRock Stock Up 0.5%

BLK opened at $990.26 on Friday. The business’s fifty day moving average is $925.28 and its two-hundred day moving average is $973.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a market cap of $153.42 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is 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.