Vestmark Advisory Solutions Inc. purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the first quarter, HoldingsChannel.com reports. The firm purchased 4,753 shares of the asset manager’s stock, valued at approximately $2,031,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in BlackRock by 7.6% during the 4th quarter. Raymond James & Associates now owns 166,642 shares of the asset manager’s stock valued at $65,467,000 after acquiring an additional 11,811 shares during the last quarter. Smith Moore & CO. boosted its stake in BlackRock by 14.6% during the 4th quarter. Smith Moore & CO. now owns 590 shares of the asset manager’s stock valued at $232,000 after acquiring an additional 75 shares during the last quarter. National Asset Management Inc. boosted its stake in BlackRock by 10.0% during the 1st quarter. National Asset Management Inc. now owns 1,578 shares of the asset manager’s stock valued at $676,000 after acquiring an additional 144 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in BlackRock by 108.6% during the 4th quarter. Morningstar Investment Services LLC now owns 83,769 shares of the asset manager’s stock valued at $32,906,000 after acquiring an additional 43,614 shares during the last quarter. Finally, Rockland Trust Co. boosted its stake in BlackRock by 3.5% during the 1st quarter. Rockland Trust Co. now owns 15,712 shares of the asset manager’s stock valued at $6,715,000 after acquiring an additional 531 shares during the last quarter. 81.36% of the stock is owned by institutional investors and hedge funds.

Shares of BlackRock stock traded down $1.31 during trading hours on Friday, reaching $446.97. The company’s stock had a trading volume of 343,538 shares, compared to its average volume of 449,935. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49. BlackRock, Inc. has a one year low of $360.79 and a one year high of $530.58. The company has a market cap of $69.07 billion, a P/E ratio of 16.60, a PEG ratio of 1.61 and a beta of 1.50.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the firm posted $6.48 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock, Inc. will post 27.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.95%. BlackRock’s payout ratio is currently 49.02%.

In other news, Chairman Laurence Fink sold 31,250 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total value of $15,055,937.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeff A. Smith sold 300 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $468.22, for a total transaction of $140,466.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,525 shares of company stock worth $16,591,075. Insiders own 1.42% of the company’s stock.

BLK has been the topic of a number of research analyst reports. Bank of America reiterated a “buy” rating and set a $498.00 price objective (up from $490.00) on shares of BlackRock in a research note on Friday, March 8th. Deutsche Bank increased their price objective on shares of BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a research note on Friday, March 15th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Barclays increased their price objective on shares of BlackRock from $472.00 to $490.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, Wells Fargo & Co increased their price objective on shares of BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $509.38.

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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