BlackRock, Inc. (NYSE:BLK) Shares Acquired by Hummer Financial Advisory Services Inc

Hummer Financial Advisory Services Inc lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 775 shares of the asset manager’s stock after purchasing an additional 25 shares during the quarter. Hummer Financial Advisory Services Inc’s holdings in BlackRock were worth $646,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Gulf International Bank UK Ltd boosted its holdings in shares of BlackRock by 5.7% during the first quarter. Gulf International Bank UK Ltd now owns 13,024 shares of the asset manager’s stock worth $10,858,000 after purchasing an additional 699 shares during the last quarter. Tealwood Asset Management Inc. boosted its holdings in BlackRock by 1.4% in the first quarter. Tealwood Asset Management Inc. now owns 1,693 shares of the asset manager’s stock valued at $1,411,000 after acquiring an additional 23 shares during the last quarter. RFG Advisory LLC boosted its holdings in BlackRock by 3.2% in the first quarter. RFG Advisory LLC now owns 1,627 shares of the asset manager’s stock valued at $1,356,000 after acquiring an additional 50 shares during the last quarter. BTC Capital Management Inc. acquired a new position in BlackRock in the first quarter valued at $11,936,000. Finally, Inscription Capital LLC boosted its holdings in BlackRock by 52.7% in the first quarter. Inscription Capital LLC now owns 1,945 shares of the asset manager’s stock valued at $1,564,000 after acquiring an additional 671 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.6 %

Shares of NYSE BLK traded up $4.77 during midday trading on Friday, reaching $787.60. 872,955 shares of the company’s stock were exchanged, compared to its average volume of 541,837. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The stock has a market capitalization of $117.04 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.62 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The business’s fifty day moving average price is $775.61 and its two-hundred day moving average price is $791.47.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the company earned $7.93 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.59%. The ex-dividend date is Friday, June 7th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Morgan Stanley lifted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $845.42.

About BlackRock

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.