BlackRock, Inc. (NYSE:BLK) Shares Sold by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,214 shares of the asset manager's stock after selling 266 shares during the quarter. KMG Fiduciary Partners LLC's holdings in BlackRock were worth $7,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BLK. IAG Wealth Partners LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $26,000. Investment Management Corp VA ADV purchased a new position in shares of BlackRock during the 4th quarter worth approximately $30,000. Collier Financial purchased a new position in shares of BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock during the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of BlackRock during the 4th quarter worth approximately $40,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock 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 transaction of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BlackRock stock opened at $990.26 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a fifty day moving average of $925.28 and a two-hundred day moving average of $973.18. The company has a market capitalization of $153.42 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $9.81 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's payout ratio is 50.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLK. Bank of America cut their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley cut their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Barclays increased their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Wall Street Zen raised BlackRock to a "hold" rating in a research note on Saturday, May 24th. Finally, Wells Fargo & Company raised their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,082.46.

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.

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