Brookstone Capital Management Buys 51 Shares of BlackRock, Inc. (NYSE:BLK)

Brookstone Capital Management raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 9.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 583 shares of the asset manager’s stock after acquiring an additional 51 shares during the period. Brookstone Capital Management’s holdings in BlackRock were worth $486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new position in BlackRock during the 4th quarter valued at about $27,000. Private Wealth Management Group LLC bought a new position in BlackRock during the 4th quarter valued at about $28,000. Pineridge Advisors LLC bought a new position in BlackRock during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA lifted its stake in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares during the period. Finally, Northwest Financial Advisors bought a new position in shares of BlackRock in the 4th quarter worth approximately $32,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of BLK opened at $787.32 on Monday. 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, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company has a 50 day simple moving average of $779.33 and a two-hundred day simple moving average of $793.03. The firm has a market cap of $117.00 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34.

BlackRock (NYSE:BLK) last announced 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. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the firm posted $7.93 EPS. The company’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. UBS Group increased their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research note 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 stock an “overweight” rating in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, 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 available at the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on 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 transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by 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.