Roberts Glore & Co. Inc. IL increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 817 shares of the asset manager’s stock after buying an additional 40 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in BlackRock were worth $359,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BLK. Firestone Capital Management acquired a new stake in BlackRock during the 4th quarter worth $25,000. Hall Laurie J Trustee acquired a new stake in shares of BlackRock in the 4th quarter valued at about $25,000. Virtus ETF Advisers LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at about $25,000. Carmichael Hill & Associates Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at about $27,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at about $27,000. 81.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE BLK traded up $2.82 during mid-day trading on Friday, hitting $511.33. The company had a trading volume of 37,040 shares, compared to its average volume of 2,376,177. BlackRock, Inc. has a one year low of $323.98 and a one year high of $576.81. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $78.48 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.96 and a beta of 1.28. The firm has a 50-day simple moving average of $474.87 and a two-hundred day simple moving average of $489.32.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be issued a dividend of $3.63 per share. This represents a $14.52 dividend on an annualized basis and a yield of 2.84%. BlackRock’s payout ratio is currently 50.98%.
In other news, CFO Gary Shedlin sold 2,625 shares of BlackRock stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $508.16, for a total value of $1,333,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 3,000 shares of BlackRock stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $499.31, for a total transaction of $1,497,930.00. The disclosure for this sale can be found here. Insiders have sold 97,845 shares of company stock valued at $46,894,663 in the last quarter. 1.42% of the stock is currently owned by corporate insiders.
BLK has been the topic of several recent research reports. Deutsche Bank lifted their price target on BlackRock from $487.00 to $488.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Citigroup lifted their price target on BlackRock from $535.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Wells Fargo & Co lifted their price target on BlackRock from $495.00 to $530.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Morgan Stanley lifted their price target on BlackRock from $515.00 to $560.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, BMO Capital Markets lifted their price target on BlackRock from $386.00 to $441.00 and gave the company a “market perform” rating in a research note on Friday, April 17th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and a consensus target price of $510.91.
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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