IFC Advisors LLC Has $793,000 Stake in BlackRock (NYSE:BLK)

by · The Markets Daily

IFC Advisors LLC decreased its holdings in BlackRock (NYSE:BLK – Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 838 shares of the asset manager’s stock after selling 102 shares during the period. IFC Advisors LLC’s holdings in BlackRock were worth $793,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Polar Capital Holdings Plc acquired a new position in shares of BlackRock in the 4th quarter valued at about $15,307,000. Community Financial Services Group LLC increased its holdings in BlackRock by 17.2% in the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock worth $5,397,000 after buying an additional 836 shares during the last quarter. Kennedy Investment Group acquired a new position in BlackRock in the first quarter worth approximately $568,000. 3Chopt Investment Partners LLC acquired a new position in BlackRock in the first quarter worth approximately $578,000. Finally, State of Alaska Department of Revenue increased its holdings in BlackRock by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 17,057 shares of the asset manager’s stock worth $16,144,000 after buying an additional 457 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research reports. UBS Group restated a “neutral” rating and issued a $980.00 price objective on shares of BlackRock in a report on Tuesday. Wells Fargo & Company reaffirmed an “overweight” rating on shares of BlackRock in a research report on Tuesday. Jefferies Financial Group upped their target price on BlackRock from $959.00 to $1,210.00 in a research report on Thursday. Argus reaffirmed a “buy” rating on shares of BlackRock in a research report on Tuesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,115.00 target price on shares of BlackRock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,132.29.

View Our Latest Stock Analysis on BLK

Insider Buying and Selling

In related 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 transaction, the director directly owned 66,034 shares of the company’s stock, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Down 0.1%

BLK opened at $1,102.63 on Friday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,105.72. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $170.83 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 2.24 and a beta of 1.41. The business has a 50 day moving average of $996.68 and a 200-day moving average of $971.61.

BlackRock (NYSE:BLK – Get Free Report) last issued its 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 during the quarter, compared to analysts’ expectations of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. BlackRock’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $9.81 earnings per share. As a group, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

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

BlackRock Profile

(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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