BlackRock (NYSE:BLK) Position Increased by PDS Planning Inc

PDS Planning Inc lifted its holdings in BlackRock (NYSE:BLK) by 7.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 863 shares of the asset manager’s stock after buying an additional 60 shares during the quarter. PDS Planning Inc’s holdings in BlackRock were worth $816,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. IAG Wealth Partners LLC acquired a new position in BlackRock in the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock in the 4th quarter worth approximately $30,000. Synergy Investment Management LLC acquired a new position in BlackRock during the 4th quarter valued at approximately $40,000. Curio Wealth LLC bought a new position in BlackRock during the 4th quarter worth $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in BlackRock in the fourth quarter worth $43,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares of the company’s stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BLK has been the topic of several recent research reports. Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. Barclays lifted their price target on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, April 14th. Bank of America decreased their price objective on 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 cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, TD Cowen reduced their price target on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,096.31.

BlackRock Price Performance

BLK opened at $1,019.43 on Thursday. The firm has a market capitalization of $157.94 billion, a P/E ratio of 24.77, a PEG ratio of 3.05 and a beta of 1.41. The stock has a fifty day moving average of $955.81 and a 200-day moving average of $969.60. 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 has a 12-month low of $773.74 and a 12-month high of $1,084.22.

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

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is 50.63%.

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.