Avalon Advisors LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 30,422 shares of the asset manager’s stock after selling 261 shares during the period. Avalon Advisors LLC’s holdings in BlackRock were worth $16,480,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bamco Inc. NY purchased a new position in shares of BlackRock during the 1st quarter valued at about $106,000. Princeton Capital Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at about $115,000. Bray Capital Advisors purchased a new position in shares of BlackRock during the 1st quarter valued at about $128,000. O Shaughnessy Asset Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at about $139,000. Finally, Assetmark Inc. raised its stake in shares of BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.
Several equities analysts recently weighed in on BLK shares. Credit Suisse Group lifted their price target on BlackRock from $672.00 to $678.00 and gave the company an “outperform” rating in a research note on Thursday, April 5th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $640.00 price target on shares of BlackRock in a research note on Wednesday, March 14th. Deutsche Bank cut their price target on BlackRock to $623.00 and set a “buy” rating for the company in a research note on Tuesday, March 6th. ValuEngine lowered BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, Zacks Investment Research lowered BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $576.33.
In related news, insider Marc D. Comerchero sold 400 shares of BlackRock stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $524.84, for a total value of $209,936.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William E. Ford acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, May 9th. The stock was purchased at an average price of $530.95 per share, for a total transaction of $530,950.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,066 shares of company stock worth $558,514. 1.75% of the stock is currently owned by insiders.
BLK stock traded down $5.00 during trading on Tuesday, hitting $510.14. The stock had a trading volume of 22,922 shares, compared to its average volume of 513,720. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.02. BlackRock, Inc. has a twelve month low of $408.62 and a twelve month high of $594.52. The stock has a market cap of $83.73 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.58 and a beta of 1.67.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.39 by $0.31. BlackRock had a return on equity of 12.76% and a net margin of 39.22%. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the firm posted $5.25 EPS. BlackRock’s revenue was up 15.9% compared to the same quarter last year. equities analysts forecast that BlackRock, Inc. will post 27.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 21st. Investors of record on Thursday, June 7th were issued a $2.88 dividend. This represents a $11.52 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, June 6th. BlackRock’s payout ratio is 50.97%.
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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