Fifth Third Wealth Advisors LLC Has $4.69 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Fifth Third Wealth Advisors LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 32.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,956 shares of the asset manager’s stock after purchasing an additional 1,214 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in BlackRock were worth $4,691,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BLK. IAG Wealth Partners LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the 4th quarter valued at $30,000. Collier Financial acquired a new stake in shares of BlackRock during the 4th quarter worth $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock in the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new position in BlackRock in the fourth quarter valued at about $40,000. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research note on Saturday, May 24th. Wells Fargo & Company cut their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a report on Monday, April 14th. UBS Group decreased their price objective on shares of 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. TD Cowen cut their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley reduced their target price on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,077.08.

BlackRock Stock Up 0.2%

Shares of NYSE:BLK opened at $977.95 on Friday. BlackRock, Inc. has a 52-week low of $752.30 and a 52-week high of $1,084.22. The company has a market capitalization of $151.51 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a fifty day moving average of $922.34 and a 200-day moving average of $975.08.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.81 EPS. On average, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, June 5th. BlackRock’s dividend payout ratio is currently 50.63%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director now directly owns 66,034 shares of the company’s stock, valued at $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is owned by company insiders.

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.