BlackRock (NYSE:BLK) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 1,164.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,954 shares of the asset manager's stock after purchasing an additional 5,483 shares during the period. Cornerstone Wealth Group LLC's holdings in BlackRock were worth $5,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BLK. Mascoma Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock valued at $542,000 after purchasing an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in 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 in the last quarter. Convergence Financial LLC boosted its stake in BlackRock by 1.6% during the 4th quarter. Convergence Financial LLC now owns 783 shares of the asset manager's stock worth $802,000 after purchasing an additional 12 shares during the last quarter. Finally, Truvestments Capital LLC grew its holdings in shares of 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 buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Up 1.4%

BLK stock traded up $14.46 during trading on Wednesday, hitting $1,019.43. 661,743 shares of the company's stock were exchanged, compared to its average volume of 691,950. The business has a 50-day moving average price of $952.76 and a two-hundred day moving average price of $969.25. 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 capitalization of $157.94 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 2.99 and a beta of 1.41. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,084.22.

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, topping the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.81 EPS. As a group, equities research analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Thursday, June 5th. BlackRock's payout ratio is 50.63%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLK. Citigroup decreased their price target 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. UBS Group lowered their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wall Street Zen raised BlackRock to a "hold" rating in a research note on Saturday, May 24th. Finally, TD Cowen cut their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,096.31.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.