Freestone Capital Holdings LLC Acquires 240 Shares of BlackRock, Inc. (NYSE:BLK)

Freestone Capital Holdings LLC raised its holdings in BlackRock, Inc. (NYSE:BLKGet Rating) by 15.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,842 shares of the asset manager’s stock after acquiring an additional 240 shares during the quarter. Freestone Capital Holdings LLC’s holdings in BlackRock were worth $1,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Financial Group LLC bought a new position in shares of BlackRock during the 4th quarter worth $27,000. Sierra Capital LLC bought a new position in shares of BlackRock during the 4th quarter worth $29,000. Industrial Alliance Investment Management Inc. bought a new position in shares of BlackRock during the 4th quarter worth $29,000. Disciplined Investments LLC bought a new position in shares of BlackRock during the 4th quarter worth $30,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of BlackRock during the 3rd quarter worth $33,000. 93.81% of the stock is currently owned by institutional investors and hedge funds.

NYSE:BLK opened at $666.53 on Friday. The company has a market cap of $100.98 billion, a PE ratio of 16.75, a P/E/G ratio of 2.12 and a beta of 1.28. BlackRock, Inc. has a twelve month low of $582.58 and a twelve month high of $973.16. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average is $677.81 and its two-hundred day moving average is $783.04.

BlackRock (NYSE:BLKGet Rating) last released its earnings results on Wednesday, April 13th. The asset manager reported $9.52 earnings per share for the quarter, topping the consensus estimate of $8.92 by $0.60. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.76 billion. BlackRock had a net margin of 31.20% and a return on equity of 17.00%. BlackRock’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.77 EPS. As a group, analysts expect that BlackRock, Inc. will post 38.58 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Monday, June 6th will be issued a $4.88 dividend. This represents a $19.52 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, June 3rd. BlackRock’s dividend payout ratio (DPR) is currently 49.06%.

In other news, Director William E. Ford bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The stock was purchased at an average cost of $701.00 per share, for a total transaction of $701,000.00. Following the purchase, the director now directly owns 12,915 shares in the company, valued at approximately $9,053,415. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William E. Ford bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was purchased at an average price of $681.44 per share, with a total value of $1,362,880.00. Following the completion of the purchase, the director now owns 14,915 shares in the company, valued at $10,163,677.60. The disclosure for this purchase can be found here. 1.06% of the stock is owned by corporate insiders.

A number of research firms have recently issued reports on BLK. The Goldman Sachs Group dropped their price target on BlackRock from $1,000.00 to $800.00 and set a “buy” rating on the stock in a research report on Monday, March 14th. BNP Paribas cut BlackRock from an “outperform” rating to a “neutral” rating and set a $725.00 price objective for the company. in a research note on Tuesday, March 8th. Jefferies Financial Group assumed coverage on BlackRock in a research note on Wednesday, April 13th. They set a “buy” rating and a $873.00 price objective for the company. Keefe, Bruyette & Woods decreased their price objective on BlackRock from $865.00 to $803.00 and set a “market perform” rating for the company in a research note on Wednesday, April 13th. Finally, Citigroup decreased their price objective on BlackRock from $1,035.00 to $900.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $869.47.

About BlackRock (Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLKGet Rating).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.