Fifth Third Wealth Advisors LLC Acquires 174 Shares of BlackRock, Inc. (NYSE:BLK)

Fifth Third Wealth Advisors LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 14.9% during the first quarter, HoldingsChannel.com reports. The fund owned 1,344 shares of the asset manager’s stock after acquiring an additional 174 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in BlackRock were worth $1,120,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Emerald Advisors LLC increased its position in BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after buying an additional 26 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in shares of BlackRock by 25.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after buying an additional 40 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after buying an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of BlackRock in the 4th quarter valued at about $439,000. Finally, Patten & Patten Inc. TN purchased a new stake in BlackRock during the 4th quarter valued at approximately $205,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

BlackRock Stock Up 0.8 %

BLK stock traded up $6.19 during trading on Friday, reaching $787.32. 724,163 shares of the company traded hands, compared to its average volume of 605,663. 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 company has a market capitalization of $117.00 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34. The business has a 50 day simple moving average of $777.90 and a 200 day simple moving average of $792.50. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.93 EPS. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were given a dividend of $5.10 per share. The ex-dividend date was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.59%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

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.