First Republic Investment Management Inc. lifted its stake in BlackRock, Inc. (NYSE:BLK) by 2.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,290 shares of the asset manager’s stock after purchasing an additional 1,667 shares during the quarter. First Republic Investment Management Inc.’s holdings in BlackRock were worth $34,285,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Morningstar Investment Services LLC boosted its position in shares of BlackRock by 9.8% in the 1st quarter. Morningstar Investment Services LLC now owns 36,520 shares of the asset manager’s stock valued at $19,784,000 after purchasing an additional 3,267 shares during the period. Natixis Advisors L.P. boosted its position in shares of BlackRock by 7.1% in the 1st quarter. Natixis Advisors L.P. now owns 28,825 shares of the asset manager’s stock valued at $15,615,000 after purchasing an additional 1,913 shares during the period. Covington Investment Advisors Inc. acquired a new position in shares of BlackRock in the 1st quarter valued at $5,566,000. Stratos Wealth Partners LTD. boosted its position in shares of BlackRock by 8.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,498 shares of the asset manager’s stock valued at $812,000 after purchasing an additional 114 shares during the period. Finally, Providence Capital Advisors LLC boosted its position in shares of BlackRock by 4.8% in the 1st quarter. Providence Capital Advisors LLC now owns 4,033 shares of the asset manager’s stock valued at $2,185,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 83.36% of the company’s stock.
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A number of equities analysts recently weighed in on the company. Deutsche Bank decreased their price target on BlackRock from $623.00 to $614.00 and set a “buy” rating for the company in a research report on Friday, April 6th. JPMorgan Chase & Co. restated an “overweight” rating and set a $640.00 price objective on shares of BlackRock in a research report on Wednesday, March 14th. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. ValuEngine lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Credit Suisse Group raised their price objective on BlackRock from $672.00 to $678.00 and gave the stock an “outperform” rating in a research report on Thursday, April 5th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $566.62.
Shares of BlackRock opened at $539.61 on Friday, according to MarketBeat Ratings. BlackRock, Inc. has a one year low of $403.12 and a one year high of $594.52. The stock has a market cap of $86.62 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.96 and a quick ratio of 3.96.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.39 by $0.31. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. BlackRock had a return on equity of 12.76% and a net margin of 39.22%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $5.25 EPS. equities analysts expect that BlackRock, Inc. will post 28.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th will be issued a dividend of $2.88 per share. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $11.52 annualized dividend and a dividend yield of 2.13%. BlackRock’s dividend payout ratio is 50.97%.
In other news, insider Marc D. Comerchero sold 400 shares of BlackRock stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $524.84, for a total transaction of $209,936.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 500 shares of BlackRock stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $515.84, for a total value of $257,920.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,066 shares of company stock valued at $3,348,514. 1.86% of the stock is owned by corporate insiders.
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.