Moss Adams Wealth Advisors LLC Increases Holdings in BlackRock, Inc. (NYSE:BLK)

Moss Adams Wealth Advisors LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 23.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 420 shares of the asset manager’s stock after acquiring an additional 79 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in BlackRock were worth $398,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Norges Bank purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of BlackRock by 401.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager’s stock valued at $1,122,743,000 after buying an additional 876,836 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of BlackRock by 138,682.5% in the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock valued at $634,000 after buying an additional 633,779 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at $572,730,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $988.81 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm has a market cap of $153.19 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The firm’s fifty day moving average price is $925.78 and its 200 day moving average price is $972.43. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the firm earned $9.81 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, June 5th. BlackRock’s dividend payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BLK shares. Barclays boosted their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. Morgan Stanley decreased their target price on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Wells Fargo & Company lifted their price target on BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Bank of America reduced their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,082.46.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares of the company’s stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% 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.