BlackRock (NYSE:BLK) Shares Acquired by Nilsine Partners LLC

Nilsine Partners LLC increased its position in shares of BlackRock (NYSE:BLK) by 11.0% during the first quarter, Holdings Channel reports. The fund owned 2,838 shares of the asset manager’s stock after acquiring an additional 281 shares during the quarter. Nilsine Partners LLC’s holdings in BlackRock were worth $2,686,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BLK. Brighton Jones LLC boosted its holdings in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after purchasing an additional 296 shares during the last quarter. Sunpointe LLC acquired a new position in BlackRock during the 4th quarter worth $203,000. Wealth Alliance grew its holdings in BlackRock by 2.0% during the 4th quarter. Wealth Alliance now owns 669 shares of the asset manager’s stock worth $686,000 after acquiring an additional 13 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in BlackRock during the 4th quarter worth $4,397,000. Finally, Waterfront Wealth Inc. acquired a new position in shares of BlackRock in the 4th quarter valued at about $1,588,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 0.5%

BLK stock opened at $974.60 on Friday. The company has a 50 day moving average of $948.55 and a two-hundred day moving average of $970.38. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,084.22. The company has a market cap of $150.99 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.97 and a beta of 1.41. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the prior year, the business posted $9.81 EPS. BlackRock’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.14%. BlackRock’s payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BLK shares. Bank of America decreased their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. UBS Group dropped their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Argus boosted their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup dropped their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Barclays boosted their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,096.31.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director now directly owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company’s stock.

BlackRock Company Profile

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.