Stonebrook Private Inc. Acquires New Stake in BlackRock (NYSE:BLK)

Stonebrook Private Inc. purchased a new position in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 317 shares of the asset manager's stock, valued at approximately $300,000.

Other large investors have also bought and sold shares of the company. IAG Wealth Partners LLC purchased a new stake in BlackRock in the 4th quarter worth approximately $26,000. Fairway Wealth LLC lifted its holdings in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 13 shares during the period. Investment Management Corp VA ADV purchased a new stake in BlackRock in the 4th quarter worth approximately $30,000. MorganRosel Wealth Management LLC purchased a new stake in BlackRock in the 1st quarter worth approximately $31,000. Finally, Curio Wealth LLC purchased a new position in shares of BlackRock during the 4th quarter worth approximately $41,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. TD Cowen reduced their price target on 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,164.00 price target on shares of BlackRock in a research note on Tuesday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a research note on Tuesday. Citigroup reduced their price target on 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. Finally, Bank of America reduced their price target on 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. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,132.29.

BlackRock Stock Performance

Shares of NYSE BLK traded down $1.42 during trading on Friday, reaching $1,102.63. 545,380 shares of the company traded hands, compared to its average volume of 693,726. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm has a 50 day simple moving average of $993.20 and a 200-day simple moving average of $971.28. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,106.39. The stock has a market capitalization of $170.83 billion, a PE ratio of 26.79, a P/E/G ratio of 2.24 and a beta of 1.41.

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

BlackRock Dividend Announcement

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

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director owned 66,034 shares in the company, valued at approximately $60,256,025. This 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. Company insiders own 1.98% of the company's stock.

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.