HighPoint Advisor Group LLC Acquires New Position in BlackRock, Inc. (NYSE:BLK)

HighPoint Advisor Group LLC acquired a new stake in BlackRock, Inc. (NYSE:BLKFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,559 shares of the asset manager’s stock, valued at approximately $1,273,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA increased its holdings in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in BlackRock in the 4th quarter worth approximately $32,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

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

BlackRock Price Performance

BlackRock stock traded down $2.44 during trading on Tuesday, reaching $778.64. The company had a trading volume of 27,404 shares, compared to its average volume of 603,993. The firm’s 50-day simple moving average is $775.55 and its 200 day simple moving average is $790.91. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The firm has a market capitalization of $115.71 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.59 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.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company earned $7.93 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities research analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be paid a $5.10 dividend. The ex-dividend date is Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.62%. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BLK. Keefe, Bruyette & Woods reiterated 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. Morgan Stanley increased their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. UBS Group increased their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

View Our Latest Stock Report on BlackRock

BlackRock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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