Fort Sheridan Advisors LLC Purchases 79 Shares of BlackRock (NYSE:BLK)

by · The Markets Daily

Fort Sheridan Advisors LLC increased its position in BlackRock (NYSE:BLK – Free Report) by 13.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 681 shares of the asset manager’s stock after acquiring an additional 79 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in BlackRock were worth $645,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Kesler Norman & Wride LLC boosted its position in shares of BlackRock by 7.0% in the first quarter. Kesler Norman & Wride LLC now owns 8,884 shares of the asset manager’s stock valued at $8,412,000 after acquiring an additional 578 shares during the period. Sage Rhino Capital LLC boosted its position in shares of BlackRock by 1.1% in the first quarter. Sage Rhino Capital LLC now owns 1,206 shares of the asset manager’s stock valued at $1,141,000 after acquiring an additional 13 shares during the period. Weil Company Inc. boosted its position in shares of BlackRock by 194.6% in the first quarter. Weil Company Inc. now owns 2,074 shares of the asset manager’s stock valued at $1,963,000 after acquiring an additional 1,370 shares during the period. MJP Associates Inc. ADV boosted its position in shares of BlackRock by 16.4% in the first quarter. MJP Associates Inc. ADV now owns 518 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 73 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of BlackRock by 13.8% in the first quarter. Cerity Partners LLC now owns 138,207 shares of the asset manager’s stock valued at $130,811,000 after acquiring an additional 16,804 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Trading Down 0.1%

BLK stock opened at $1,102.63 on Friday. The company has a market capitalization of $170.83 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. BlackRock has a one year low of $773.74 and a one year high of $1,105.72. The company’s 50 day moving average price is $996.68 and its two-hundred day moving average price is $971.61. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $9.81 earnings per share. As a group, analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.63%.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director directly owned 66,034 shares of the company’s stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BLK shares. Citigroup lowered their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays raised their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America lowered their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research note on Tuesday. Finally, TD Cowen lowered their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,132.29.

Get Our Latest Analysis on BLK

About BlackRock

(Free Report)

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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