E&G Advisors LP Buys 390 Shares of BlackRock, Inc. (NYSE:BLK)

E&G Advisors LP lifted its stake in BlackRock, Inc. (NYSE:BLK) by 53.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,124 shares of the asset manager’s stock after purchasing an additional 390 shares during the period. E&G Advisors LP’s holdings in BlackRock were worth $937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. Norges Bank bought a new position in shares of BlackRock in the 4th quarter worth $1,812,920,000. Capital World Investors grew its stake in BlackRock by 57.3% in the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after acquiring an additional 1,279,952 shares during the period. Capital Research Global Investors grew its stake in BlackRock by 23.7% in the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after acquiring an additional 749,654 shares during the period. International Assets Investment Management LLC grew its stake in BlackRock by 77,524.5% in the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after acquiring an additional 641,128 shares during the period. Finally, Wellington Management Group LLP grew its stake in BlackRock by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after acquiring an additional 307,516 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BLK has been the topic of a number of research reports. UBS Group boosted their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Morgan Stanley boosted 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. JPMorgan Chase & Co. boosted their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $915.00 price target on shares of BlackRock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $844.17.

BlackRock Stock Performance

Shares of BlackRock stock traded down $0.28 on Wednesday, hitting $788.85. The stock had a trading volume of 250,799 shares, compared to its average volume of 600,858. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The business’s 50 day moving average is $780.22 and its two-hundred day moving average is $792.74. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a market cap of $117.22 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32.

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

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of the 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 completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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.