Nicholas Hoffman & Company LLC. lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,022 shares of the asset manager’s stock after purchasing an additional 32 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in BlackRock were worth $450,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of BLK. NEXT Financial Group Inc boosted its position in shares of BlackRock by 30.9% in the 4th quarter. NEXT Financial Group Inc now owns 581 shares of the asset manager’s stock worth $292,000 after purchasing an additional 137 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of BlackRock by 79.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 277 shares of the asset manager’s stock worth $139,000 after purchasing an additional 123 shares in the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of BlackRock by 26.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 100 shares of the asset manager’s stock worth $50,000 after purchasing an additional 21 shares in the last quarter. Davis R M Inc. boosted its position in shares of BlackRock by 44.8% in the 4th quarter. Davis R M Inc. now owns 931 shares of the asset manager’s stock worth $468,000 after purchasing an additional 288 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of BlackRock in the 4th quarter worth $300,000. 81.50% of the stock is owned by hedge funds and other institutional investors.
Shares of BLK stock traded up $4.79 on Friday, hitting $513.30. The company had a trading volume of 632,652 shares, compared to its average volume of 2,400,958. The firm has a market cap of $78.44 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.96 and a beta of 1.28. The company has a 50-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. BlackRock, Inc. has a twelve month low of $323.98 and a twelve month high of $576.81.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Thursday, April 16th. The asset manager reported $6.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.36 by $0.24. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.68 billion. BlackRock had a return on equity of 13.62% and a net margin of 28.38%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.61 EPS. Equities research analysts expect that BlackRock, Inc. will post 25.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a $3.63 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $14.52 annualized dividend and a dividend yield of 2.83%. BlackRock’s dividend payout ratio (DPR) is presently 50.98%.
In other news, CFO Gary Shedlin sold 2,625 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $508.16, for a total value of $1,333,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 684 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $490.17, for a total value of $335,276.28. The disclosure for this sale can be found here. In the last three months, insiders sold 97,845 shares of company stock valued at $46,894,663. Insiders own 1.42% of the company’s stock.
A number of analysts have recently weighed in on the company. Credit Suisse Group raised their price objective on BlackRock from $534.00 to $552.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. ValuEngine raised BlackRock from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Barclays lifted their price target on BlackRock from $495.00 to $515.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Wells Fargo & Co lifted their price target on BlackRock from $495.00 to $530.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Deutsche Bank lifted their price target on BlackRock from $487.00 to $488.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $510.91.
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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