CFM Wealth Partners LLC Purchases New Holdings in BlackRock (NYSE:BLK)

CFM Wealth Partners LLC acquired a new position in shares of BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 359 shares of the asset manager's stock, valued at approximately $340,000.

Other large investors also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC raised its position in BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock valued at $130,000 after buying an additional 11 shares during the period. Hazlett Burt & Watson Inc. grew its stake in BlackRock by 2.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock valued at $542,000 after acquiring an additional 11 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of BlackRock by 4.5% in the 4th 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 period. Truvestments Capital LLC lifted its position in shares of BlackRock by 10.8% in 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 in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of BlackRock by 3.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock worth $409,000 after purchasing an additional 12 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

NYSE BLK opened at $1,049.35 on Friday. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22. The stock's 50-day moving average is $962.39 and its two-hundred day moving average is $968.76. The firm has a market cap of $162.58 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34.

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

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's payout ratio is 50.63%.

Wall Street Analyst Weigh In

BLK has been the topic of several research reports. Citigroup dropped their price objective on shares of 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. TD Cowen lowered their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company increased their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Finally, Bank of America dropped their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average target price of $1,102.08.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were 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 $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is owned by insiders.

BlackRock Company 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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