Boltwood Capital Management bought a new position in BlackRock, Inc. (NYSE:BLK) in the first quarter, according to its most recent filing with the SEC. The firm bought 583 shares of the asset manager’s stock, valued at approximately $440,000.
A number of other hedge funds also recently added to or reduced their stakes in BLK. McCarthy Asset Management Inc. acquired a new stake in BlackRock in the 4th quarter worth approximately $25,000. Sittner & Nelson LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $25,000. Birch Capital Management LLC purchased a new stake in shares of BlackRock in the 1st quarter valued at $26,000. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $35,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of BlackRock in the 4th quarter valued at $36,000. Institutional investors own 79.10% of the company’s stock.
In related news, CFO Gary Shedlin sold 3,206 shares of the firm’s stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $730.41, for a total transaction of $2,341,694.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $730.97, for a total transaction of $2,046,716.00. The disclosure for this sale can be found here. Insiders sold 40,418 shares of company stock valued at $29,492,515 over the last quarter. Company insiders own 1.42% of the company’s stock.
NYSE:BLK traded up $7.69 during trading hours on Thursday, reaching $795.69. 5,356 shares of the company were exchanged, compared to its average volume of 707,522. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average is $725.50 and its 200-day moving average is $688.58. The firm has a market cap of $121.45 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. BlackRock, Inc. has a twelve month low of $440.00 and a twelve month high of $790.22.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 13th. The asset manager reported $10.18 EPS for the quarter, beating the Zacks’ consensus estimate of $9.14 by $1.04. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.28 billion. BlackRock had a net margin of 30.43% and a return on equity of 15.74%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $8.34 earnings per share. As a group, research analysts anticipate that BlackRock, Inc. will post 36.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 23rd. Stockholders of record on Friday, March 5th were given a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from BlackRock’s previous quarterly dividend of $3.63. The ex-dividend date of this dividend was Thursday, March 4th. BlackRock’s dividend payout ratio is 48.85%.
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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