MACRO Consulting Group Increases Position in BlackRock, Inc. (NYSE:BLK)

MACRO Consulting Group increased its stake in BlackRock, Inc. (NYSE:BLK) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,409 shares of the asset manager’s stock after purchasing an additional 280 shares during the quarter. MACRO Consulting Group’s holdings in BlackRock were worth $1,458,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Destination Wealth Management grew its position in shares of BlackRock by 1.7% during the first quarter. Destination Wealth Management now owns 1,253 shares of the asset manager’s stock valued at $535,000 after purchasing an additional 21 shares in the last quarter. Winslow Evans & Crocker Inc. grew its position in shares of BlackRock by 11.6% during the first quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock valued at $94,000 after purchasing an additional 22 shares in the last quarter. Somerset Trust Co grew its position in shares of BlackRock by 0.6% during the first quarter. Somerset Trust Co now owns 3,678 shares of the asset manager’s stock valued at $1,572,000 after purchasing an additional 23 shares in the last quarter. SlateStone Wealth LLC grew its position in shares of BlackRock by 0.6% during the first quarter. SlateStone Wealth LLC now owns 4,167 shares of the asset manager’s stock valued at $1,781,000 after purchasing an additional 23 shares in the last quarter. Finally, First Manhattan Co. grew its position in shares of BlackRock by 3.5% during the first quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 24 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on BLK. Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Wells Fargo & Co lifted their price target on BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research report on Wednesday, April 17th. Morgan Stanley lifted their price target on BlackRock from $536.00 to $545.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Citigroup lifted their price target on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Bank of America reiterated a “buy” rating and issued a $498.00 price target (up previously from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $509.38.

NYSE:BLK traded up $4.82 during trading hours on Friday, reaching $469.30. The company’s stock had a trading volume of 580,483 shares, compared to its average volume of 573,261. The stock has a market cap of $72.60 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.66 and a beta of 1.50. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $513.00. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83. The firm has a 50 day simple moving average of $444.59.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the firm posted $6.48 earnings per share. BlackRock’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, analysts expect that BlackRock, Inc. will post 27.79 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.81%. The ex-dividend date was Wednesday, June 5th. BlackRock’s dividend payout ratio is currently 49.02%.

In other news, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gary Shedlin sold 2,750 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total transaction of $1,286,972.50. The disclosure for this sale can be found here. Insiders sold 34,525 shares of company stock worth $16,591,075 over the last ninety days. Corporate insiders own 1.42% of the company’s stock.

About BlackRock

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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