Albion Financial Group UT Has $9.39 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Albion Financial Group UT raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,263 shares of the asset manager’s stock after acquiring an additional 454 shares during the period. Albion Financial Group UT’s holdings in BlackRock were worth $9,390,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Axxcess Wealth Management LLC boosted its stake in shares of BlackRock by 177.7% in the third quarter. Axxcess Wealth Management LLC now owns 3,613 shares of the asset manager’s stock valued at $2,336,000 after buying an additional 2,312 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of BlackRock by 5.0% in the third quarter. Ameriprise Financial Inc. now owns 1,568,890 shares of the asset manager’s stock valued at $1,014,287,000 after buying an additional 74,974 shares during the period. Alps Advisors Inc. boosted its stake in shares of BlackRock by 9.5% in the third quarter. Alps Advisors Inc. now owns 7,958 shares of the asset manager’s stock valued at $5,145,000 after buying an additional 690 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of BlackRock by 0.6% in the third quarter. Evergreen Capital Management LLC now owns 9,923 shares of the asset manager’s stock valued at $6,415,000 after buying an additional 64 shares during the period. Finally, Legacy Advisors LLC lifted its stake in BlackRock by 3.0% during the third quarter. Legacy Advisors LLC now owns 766 shares of the asset manager’s stock worth $495,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BLK. UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley upped their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $915.00 target price on shares of BlackRock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $844.17.

BlackRock Trading Down 0.0 %

NYSE BLK traded down $0.01 on Wednesday, reaching $789.12. The company had a trading volume of 250,799 shares, compared to its average volume of 600,858. The firm has a market cap of $117.26 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 1.63 and a beta of 1.32. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The business has a 50 day moving average of $780.22 and a two-hundred day moving average of $792.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.93 earnings per share. Analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were issued a $5.10 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.59%. BlackRock’s payout ratio is 51.84%.

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.