Walter & Keenan Financial Consulting Co. MI ADV continued to hold its stake in BlackRock, Inc. (NYSE:BLK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 609 shares of the asset manager’s stock at the end of the first quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in BlackRock were worth $234,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of BLK. Fisher Asset Management LLC increased its stake in BlackRock by 44.1% in the first quarter. Fisher Asset Management LLC now owns 108,774 shares of the asset manager’s stock worth $41,716,000 after buying an additional 33,283 shares in the last quarter. Covington Capital Management increased its stake in BlackRock by 1.5% in the third quarter. Covington Capital Management now owns 33,273 shares of the asset manager’s stock worth $12,060,000 after buying an additional 500 shares in the last quarter. Aviva PLC increased its stake in BlackRock by 4.4% in the fourth quarter. Aviva PLC now owns 97,010 shares of the asset manager’s stock worth $36,939,000 after buying an additional 4,077 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in BlackRock by 212.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 3,047 shares of the asset manager’s stock worth $1,160,000 after buying an additional 2,072 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of BlackRock by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 113,736 shares of the asset manager’s stock worth $43,619,000 after buying an additional 2,805 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.
Shares of BlackRock, Inc. (BLK) opened at 420.51 on Friday. The firm has a market capitalization of $68.49 billion, a PE ratio of 20.66 and a beta of 1.67. The stock’s 50 day moving average is $399.61 and its 200 day moving average is $387.27. BlackRock, Inc. has a 52-week low of $317.60 and a 52-week high of $423.47.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, April 19th. The asset manager reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.31. BlackRock had a return on equity of 11.62% and a net margin of 29.74%. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the company earned $4.25 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post $21.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Monday, June 5th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $10.00 annualized dividend and a dividend yield of 2.38%. BlackRock’s dividend payout ratio (DPR) is 49.14%.
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BLK has been the subject of a number of recent analyst reports. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of BlackRock in a report on Wednesday, March 8th. Deutsche Bank AG reaffirmed a “buy” rating and set a $441.00 price target (down previously from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Jefferies Group LLC reissued a “hold” rating and issued a $387.00 price objective on shares of BlackRock in a research note on Wednesday, May 17th. Finally, Morgan Stanley reissued a “buy” rating on shares of BlackRock in a research note on Saturday, March 18th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $410.70.
In other news, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the transaction, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by company insiders.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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