Embree Financial Group Takes Position in BlackRock (NYSE:BLK)

Embree Financial Group bought a new stake in BlackRock (NYSE:BLK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,171 shares of the asset manager's stock, valued at approximately $4,894,000. BlackRock makes up about 0.8% of Embree Financial Group's holdings, making the stock its 27th biggest holding.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after purchasing an additional 296 shares in the last quarter. First Horizon Advisors Inc. grew its stake in BlackRock by 0.7% during the 4th quarter. First Horizon Advisors Inc. now owns 2,679 shares of the asset manager's stock valued at $2,747,000 after purchasing an additional 19 shares in the last quarter. Fisher Funds Management LTD acquired a new stake in BlackRock during the 4th quarter valued at approximately $5,082,000. Howard Capital Management Inc. acquired a new stake in BlackRock during the 4th quarter valued at approximately $977,000. Finally, Forvis Mazars Wealth Advisors LLC acquired a new stake in BlackRock during the 4th quarter valued at approximately $504,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Activity

In other news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on BLK. Bank of America lowered their price objective 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 decreased their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Barclays lifted their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Finally, Argus lifted their target price on BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,096.31.

BlackRock Stock Up 1.2%

Shares of BlackRock stock opened at $986.31 on Tuesday. The business's fifty day moving average price is $950.45 and its two-hundred day moving average price is $969.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The company has a market capitalization of $152.81 billion, a P/E ratio of 23.96, a PEG ratio of 2.96 and a beta of 1.41. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,084.22.

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

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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.

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