Mid Atlantic Financial Management Inc. ADV Has $754,000 Position in BlackRock, Inc. (NYSE:BLK)

Mid Atlantic Financial Management Inc. ADV reduced its stake in BlackRock, Inc. (NYSE:BLK) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the asset manager’s stock after selling 41 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in BlackRock were worth $754,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BLK. Winslow Evans & Crocker Inc. grew its stake in shares of BlackRock by 1,012.5% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 445 shares of the asset manager’s stock valued at $322,000 after acquiring an additional 405 shares in the last quarter. Almanack Investment Partners LLC. grew its stake in shares of BlackRock by 11.2% in the fourth quarter. Almanack Investment Partners LLC. now owns 992 shares of the asset manager’s stock valued at $716,000 after acquiring an additional 100 shares in the last quarter. Baker Tilly Financial LLC acquired a new position in shares of BlackRock in the fourth quarter valued at about $464,000. DB Wealth Management Group LLC acquired a new position in shares of BlackRock in the fourth quarter valued at about $54,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of BlackRock by 3.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,486 shares of the asset manager’s stock valued at $6,123,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

BLK has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of BlackRock from $950.00 to $1,000.00 in a research report on Friday, April 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of BlackRock from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, April 16th. Argus upped their price objective on shares of BlackRock from $845.00 to $915.00 and gave the stock a “buy” rating in a research report on Friday, April 16th. Credit Suisse Group upped their price objective on shares of BlackRock from $949.00 to $984.00 and gave the stock an “outperform” rating in a research report on Friday, April 16th. Finally, Morgan Stanley upped their price objective on shares of BlackRock from $924.00 to $944.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 20th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $886.08.

BLK stock opened at $867.44 on Friday. The company has a market capitalization of $132.31 billion, a PE ratio of 25.14, a P/E/G ratio of 2.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.44 and a quick ratio of 4.44. BlackRock, Inc. has a 12 month low of $515.72 and a 12 month high of $890.00. The business has a 50-day moving average of $838.22.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, April 14th. The asset manager reported $7.77 EPS for the quarter, topping analysts’ consensus estimates of $7.64 by $0.13. BlackRock had a net margin of 31.52% and a return on equity of 15.72%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the business earned $6.60 earnings per share. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. Sell-side analysts forecast that BlackRock, Inc. will post 36.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 23rd. Stockholders of record on Friday, June 4th will be paid a $4.13 dividend. This represents a $16.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, June 3rd. BlackRock’s dividend payout ratio is currently 48.85%.

In other news, insider Marc D. Comerchero sold 600 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $808.38, for a total value of $485,028.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 31,668 shares of the company’s stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $865.89, for a total value of $27,421,004.52. The disclosure for this sale can be found here. Insiders sold 38,409 shares of company stock valued at $32,875,775 in the last ninety days. 1.16% of the stock is currently owned by insiders.

About BlackRock

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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