Stamos Capital Partners L.P. Invests $3.73 Million in BlackRock, Inc. (NYSE:BLK)

Stamos Capital Partners L.P. acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,640 shares of the asset manager's stock, valued at approximately $3,731,000.

A number of other hedge funds also recently made changes to their positions in the stock. Morse Asset Management Inc purchased a new position in shares of BlackRock during the 3rd quarter valued at about $66,000. Invst LLC grew its position in BlackRock by 2.2% during the third quarter. Invst LLC now owns 2,435 shares of the asset manager's stock valued at $2,312,000 after acquiring an additional 52 shares during the last quarter. Wealthquest Corp bought a new stake in shares of BlackRock in the 3rd quarter worth approximately $225,000. Tudor Financial Inc. purchased a new stake in shares of BlackRock in the 3rd quarter valued at $399,000. Finally, Anchor Investment Management LLC grew its holdings in shares of BlackRock by 31.8% during the 3rd quarter. Anchor Investment Management LLC now owns 791 shares of the asset manager's stock valued at $751,000 after purchasing an additional 191 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Trading Down 0.1 %

BLK stock traded down $0.74 during trading on Tuesday, reaching $889.21. The company had a trading volume of 516,178 shares, compared to its average volume of 683,689. The business has a 50 day moving average of $937.25 and a 200 day moving average of $987.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market cap of $138.05 billion, a P/E ratio of 21.17, a PEG ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22.

Remove Ads

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $9.81 EPS. As a group, sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a $5.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.34%. BlackRock's dividend payout ratio is currently 50.63%.

Analyst Ratings Changes

Several research firms have weighed in on BLK. Barclays boosted their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday. Citigroup dropped their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday. Finally, StockNews.com initiated coverage on shares of BlackRock in a research note on Monday. They issued a "hold" rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,077.08.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the sale, the director now owns 68,433 shares in the company, valued at approximately $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 20,430 shares of company stock worth $21,234,629 in the last three months. 0.90% of the stock is owned by corporate insiders.

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.