BlackRock, Inc. (NYSE:BLK) Shares Bought by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 309 shares of the asset manager’s stock after buying an additional 18 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in BlackRock were worth $292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Amalgamated Bank boosted its position in BlackRock by 1.7% in the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock worth $29,432,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of BlackRock by 4.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock valued at $12,793,000 after purchasing an additional 578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock valued at $67,038,000 after buying an additional 4,210 shares during the period. Polar Capital Holdings Plc purchased a new position in BlackRock in the fourth quarter valued at $15,307,000. Finally, Alberta Investment Management Corp raised its position in shares of BlackRock by 242.3% in the fourth quarter. Alberta Investment Management Corp now owns 21,905 shares of the asset manager’s stock worth $22,455,000 after acquiring an additional 15,505 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

BLK stock opened at $990.26 on Monday. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The firm has a market capitalization of $153.42 billion, a PE ratio of 23.58, 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 current ratio of 5.23 and a quick ratio of 5.23. The business has a 50 day simple moving average of $925.28 and a 200-day simple moving average of $972.77.

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 the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $9.81 EPS. Equities research analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. Morgan Stanley dropped their price objective 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. Bank of America dropped their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. UBS Group reduced their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. TD Cowen dropped their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,082.46.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director now owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.98% of the company’s stock.

BlackRock 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.