Evolve Private Wealth LLC Purchases 548 Shares of BlackRock $BLK

Evolve Private Wealth LLC grew its holdings in BlackRock (NYSE:BLK) by 40.1% during the 1st quarter, HoldingsChannel reports. The firm owned 1,914 shares of the asset manager’s stock after acquiring an additional 548 shares during the quarter. Evolve Private Wealth LLC’s holdings in BlackRock were worth $1,841,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in BlackRock by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock worth $15,051,846,000 after buying an additional 221,123 shares during the period. State Street Corp boosted its position in shares of BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock valued at $6,705,193,000 after acquiring an additional 33,752 shares during the period. Corient Private Wealth LLC boosted its position in shares of BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after acquiring an additional 5,386,640 shares during the period. Bank of America Corp DE grew its stake in shares of BlackRock by 3.0% in the fourth quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager’s stock worth $5,563,524,000 after acquiring an additional 149,902 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of BlackRock by 0.3% in the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock worth $4,108,968,000 after acquiring an additional 12,019 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BLK. Barclays upped their target price on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings upgraded shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Evercore dropped their price objective on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating on the stock in a report on Monday, June 8th. JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Finally, TD Cowen reduced their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,264.61.

Insider Buying and Selling at BlackRock

In other BlackRock news, President Robert Kapito sold 8,739 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the completion of the transaction, the president directly owned 210,186 shares in the company, valued at $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the transaction, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.92% of the company’s stock.

BlackRock Stock Down 0.0%

NYSE BLK opened at $1,049.74 on Tuesday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average is $1,048.86 and its two-hundred day moving average is $1,052.07. The company has a market capitalization of $162.95 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.37 and a beta of 1.42. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. The business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.BlackRock’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.64 EPS. Equities analysts forecast that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock’s dividend payout ratio is 57.53%.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.