Naples Global Advisors LLC raised its position in BlackRock, Inc. (NYSE:BLK) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,195 shares of the asset manager’s stock after acquiring an additional 121 shares during the period. Naples Global Advisors LLC’s holdings in BlackRock were worth $2,648,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Raymond James & Associates boosted its position in shares of BlackRock by 7.6% in the 4th quarter. Raymond James & Associates now owns 166,642 shares of the asset manager’s stock worth $65,467,000 after purchasing an additional 11,811 shares during the last quarter. Smith Moore & CO. raised its stake in BlackRock by 14.6% during the 4th quarter. Smith Moore & CO. now owns 590 shares of the asset manager’s stock worth $232,000 after buying an additional 75 shares during the period. Morningstar Investment Services LLC raised its stake in BlackRock by 108.6% during the 4th quarter. Morningstar Investment Services LLC now owns 83,769 shares of the asset manager’s stock worth $32,906,000 after buying an additional 43,614 shares during the period. Rockland Trust Co. raised its stake in BlackRock by 3.5% during the 1st quarter. Rockland Trust Co. now owns 15,712 shares of the asset manager’s stock worth $6,715,000 after buying an additional 531 shares during the period. Finally, JGP Wealth Management LLC raised its stake in BlackRock by 37.0% during the 4th quarter. JGP Wealth Management LLC now owns 8,887 shares of the asset manager’s stock worth $3,491,000 after buying an additional 2,398 shares during the period. 80.49% of the stock is owned by hedge funds and other institutional investors.
In other BlackRock news, COO Robert L. Goldstein sold 5,133 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $443.00, for a total transaction of $2,273,919.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,658 shares of company stock valued at $18,864,994. 1.42% of the stock is owned by company insiders.
Several analysts have issued reports on the company. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Wells Fargo & Co lifted their price target on BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a research note on Wednesday, April 17th. Morgan Stanley lifted their price target on BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Citigroup raised their price objective on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Bank of America restated a “buy” rating and issued a $498.00 price objective (up previously from $490.00) on shares of BlackRock in a report on Friday, March 8th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $509.38.
Shares of NYSE:BLK traded up $1.87 during trading on Friday, reaching $435.76. 272,077 shares of the stock were exchanged, compared to its average volume of 506,545. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $557.00. The stock has a market cap of $67.51 billion, a PE ratio of 16.18, a P/E/G ratio of 1.59 and a beta of 1.44. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.13 by $0.48. BlackRock had a return on equity of 13.46% and a net margin of 30.58%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the previous year, the company posted $6.48 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post 27.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.03%. BlackRock’s payout ratio is 49.02%.
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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