Consolidated Capital Management LLC Increases Stake in BlackRock (NYSE:BLK)

Consolidated Capital Management LLC grew its stake in BlackRock (NYSE:BLK - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,045 shares of the asset manager's stock after purchasing an additional 635 shares during the period. BlackRock makes up approximately 2.0% of Consolidated Capital Management LLC's holdings, making the stock its 22nd largest holding. Consolidated Capital Management LLC's holdings in BlackRock were worth $4,775,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Mascoma Wealth Management LLC grew its holdings in BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after buying an additional 11 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after acquiring an additional 11 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of BlackRock by 4.5% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after purchasing an additional 11 shares during the last quarter. Detalus Advisors LLC lifted its position in shares of BlackRock by 2.8% during the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock valued at $387,000 after purchasing an additional 11 shares in the last quarter. Finally, Truvestments Capital LLC boosted its holdings in BlackRock by 10.8% during the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock worth $126,000 after purchasing an additional 12 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of BLK traded down $1.42 during trading hours on Friday, reaching $1,102.63. 545,380 shares of the company's stock traded hands, compared to its average volume of 693,726. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,106.39. 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 cap of $170.83 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The firm's 50 day simple moving average is $996.68 and its 200-day simple moving average is $971.61.

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

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders 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 payout ratio is currently 50.63%.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director owned 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BLK. TD Cowen dropped their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley reissued an "overweight" rating and issued a $1,164.00 price target on shares of BlackRock in a research report on Tuesday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a report on Tuesday. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a report on Tuesday. Finally, Bank of America cut their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,132.29.

About BlackRock

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.