Toth Financial Advisory Corp Grows Position in BlackRock, Inc. (NYSE:BLK)

Toth Financial Advisory Corp grew its stake in BlackRock, Inc. (NYSE:BLK) by 7.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 10,259 shares of the asset manager’s stock after buying an additional 715 shares during the period. BlackRock makes up 1.2% of Toth Financial Advisory Corp’s investment portfolio, making the stock its 26th largest position. Toth Financial Advisory Corp’s holdings in BlackRock were worth $9,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. GAMMA Investing LLC lifted its position in BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock worth $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. Norges Bank purchased a new position in shares of BlackRock in the fourth quarter worth about $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of BlackRock by 401.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager’s stock worth $1,122,743,000 after purchasing an additional 876,836 shares during the period. Proficio Capital Partners LLC boosted its position in BlackRock by 138,682.5% in the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock valued at $634,000 after buying an additional 633,779 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in BlackRock in the fourth quarter valued at approximately $572,730,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Up 0.5%

Shares of BLK opened at $990.26 on Monday. The firm has a market cap of $153.42 billion, a P/E ratio of 23.58, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 12 month low of $752.30 and a 12 month high of $1,084.22. The stock’s 50 day moving average is $925.28 and its two-hundred day moving average is $972.77. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the prior year, the business posted $9.81 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s dividend payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BLK. Bank of America decreased their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Barclays lifted their price objective on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Citigroup lowered their target price on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen upgraded BlackRock to a “hold” rating in a research report on Saturday, May 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,082.46.

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.