Hexagon Capital Partners LLC Has $178,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Hexagon Capital Partners LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 14.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 213 shares of the asset manager’s stock after selling 37 shares during the quarter. Hexagon Capital Partners LLC’s holdings in BlackRock were worth $178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Nomura Holdings Inc. acquired a new position in BlackRock during the third quarter valued at approximately $303,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of BlackRock by 37.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,797 shares of the asset manager’s stock valued at $22,496,000 after purchasing an additional 9,539 shares during the period. Waverly Advisors LLC increased its stake in BlackRock by 16.7% during the 3rd quarter. Waverly Advisors LLC now owns 567 shares of the asset manager’s stock worth $367,000 after purchasing an additional 81 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in BlackRock by 29.8% in the third quarter. Insigneo Advisory Services LLC now owns 1,369 shares of the asset manager’s stock valued at $885,000 after buying an additional 314 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of BlackRock by 177.7% in the third quarter. Axxcess Wealth Management LLC now owns 3,613 shares of the asset manager’s stock valued at $2,336,000 after buying an additional 2,312 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BLK. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley raised their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, UBS Group lifted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Down 0.6 %

BLK stock opened at $782.27 on Tuesday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The stock has a market capitalization of $116.25 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.63 and a beta of 1.32. The business’s fifty day moving average price is $779.33 and its two-hundred day moving average price is $793.03.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $7.93 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

BlackRock Profile

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.