Newbridge Financial Services Group Inc. Invests $250,000 in BlackRock, Inc. (NYSE:BLK)

Newbridge Financial Services Group Inc. purchased a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 308 shares of the asset manager’s stock, valued at approximately $250,000.

Several other hedge funds have also bought and sold shares of the stock. Paralel Advisors LLC raised its stake in BlackRock by 1.2% during the 3rd quarter. Paralel Advisors LLC now owns 2,859 shares of the asset manager’s stock worth $1,848,000 after acquiring an additional 33 shares during the period. QRG Capital Management Inc. purchased a new position in shares of BlackRock during the 3rd quarter valued at $5,474,000. Invesco Ltd. boosted its holdings in BlackRock by 84.4% in the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after buying an additional 340,792 shares during the period. Mirabella Financial Services LLP purchased a new stake in BlackRock in the 3rd quarter worth $246,000. Finally, Glenview Trust co boosted its stake in shares of BlackRock by 0.6% in the third quarter. Glenview Trust co now owns 13,267 shares of the asset manager’s stock worth $8,577,000 after acquiring an additional 73 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BLK shares. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, Morgan Stanley increased their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Up 0.4 %

Shares of NYSE BLK opened at $784.12 on Wednesday. The stock has a market capitalization of $116.52 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.59 and a beta of 1.34. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $775.16 and its 200-day moving average price is $791.10.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for 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%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.93 earnings per share. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a $5.10 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $20.40 annualized dividend and a dividend yield of 2.60%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were 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 of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by 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.