Midland Wealth Advisors LLC Has $2.12 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Midland Wealth Advisors LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 5.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,237 shares of the asset manager’s stock after selling 139 shares during the quarter. Midland Wealth Advisors LLC’s holdings in BlackRock were worth $2,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BLK. Pallas Capital Advisors LLC increased its stake in BlackRock by 112.9% in the first quarter. Pallas Capital Advisors LLC now owns 1,135 shares of the asset manager’s stock valued at $1,073,000 after acquiring an additional 602 shares during the last quarter. Cetera Trust Company N.A bought a new position in shares of BlackRock in the 1st quarter valued at $2,876,000. Patrick M Sweeney & Associates Inc. raised its holdings in shares of BlackRock by 6.2% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 309 shares of the asset manager’s stock worth $292,000 after buying an additional 18 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of BlackRock by 11.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,561 shares of the asset manager’s stock worth $2,418,000 after buying an additional 269 shares during the last quarter. Finally, City Holding Co. grew its position in BlackRock by 35.1% in the first quarter. City Holding Co. now owns 77 shares of the asset manager’s stock valued at $73,000 after acquiring an additional 20 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BLK. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. TD Cowen decreased 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 note on Wednesday, April 9th. UBS Group dropped their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wall Street Zen upgraded BlackRock to a “hold” rating in a research report on Saturday, May 24th. Finally, Wells Fargo & Company increased their target price on BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,082.46.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Up 0.5%

BlackRock stock opened at $990.26 on Monday. The firm has a market cap of $153.42 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 52-week low of $752.30 and a 52-week high of $1,084.22. 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 firm has a 50 day moving average price of $925.28 and a two-hundred day moving average price of $972.77.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share 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 net margin of 31.21% and a return on equity of 16.32%. BlackRock’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $9.81 earnings per share. Equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. BlackRock’s payout ratio is 50.63%.

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.