Highstreet Asset Management Inc. raised its position in BlackRock, Inc. (NYSE:BLK) by 64.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,268 shares of the asset manager’s stock after purchasing an additional 1,286 shares during the quarter. Highstreet Asset Management Inc.’s holdings in BlackRock were worth $1,397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. raised its stake in shares of BlackRock by 81.8% in the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 27 shares during the period. WESPAC Advisors SoCal LLC bought a new position in shares of BlackRock in the 4th quarter valued at about $25,000. Hanson McClain Inc. grew its holdings in shares of BlackRock by 425.0% in the 4th quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 51 shares in the last quarter. Private Ocean LLC grew its holdings in shares of BlackRock by 620.0% in the 4th quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 62 shares in the last quarter. Finally, Harvest Group Wealth Management LLC bought a new position in shares of BlackRock in the 1st quarter valued at about $37,000. 81.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Laurence Fink sold 31,250 shares of BlackRock stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeff A. Smith sold 75 shares of BlackRock stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $479.40, for a total value of $35,955.00. The disclosure for this sale can be found here. Insiders have sold 34,525 shares of company stock valued at $16,591,075 in the last quarter. 1.42% of the stock is currently owned by corporate insiders.

Shares of NYSE BLK opened at $415.56 on Monday. The stock has a market capitalization of $64.21 billion, a PE ratio of 15.43, a P/E/G ratio of 1.50 and a beta of 1.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $557.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 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 business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter last year, the company posted $6.48 earnings per share. BlackRock’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 27.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Wednesday, June 5th. BlackRock’s payout ratio is currently 49.02%.

Several equities analysts have recently weighed in on BLK shares. Morgan Stanley set a $515.00 price objective on BlackRock and gave the company a “buy” rating in a report on Friday, February 8th. Barclays raised their price objective on BlackRock from $455.00 to $472.00 and gave the company an “overweight” rating in a report on Tuesday, February 19th. Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. 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. Finally, Deutsche Bank raised their price objective on BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a report on Friday, March 15th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $509.38.

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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.

See Also: Producer Price Index (PPI)

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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