Stonegate Investment Group LLC Sells 4,605 Shares of BlackRock (NYSE:BLK)

Stonegate Investment Group LLC decreased its holdings in BlackRock (NYSE:BLK - Free Report) by 89.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 518 shares of the asset manager's stock after selling 4,605 shares during the quarter. Stonegate Investment Group LLC's holdings in BlackRock were worth $490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IAG Wealth Partners LLC acquired a new position in BlackRock in the fourth quarter valued at $26,000. Investment Management Corp VA ADV acquired a new position in BlackRock in the fourth quarter valued at $30,000. Synergy Investment Management LLC acquired a new position in BlackRock in the fourth quarter valued at $40,000. Curio Wealth LLC acquired a new position in BlackRock in the fourth quarter valued at $41,000. Finally, Cedar Wealth Management LLC acquired a new position in BlackRock in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated 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 now directly owns 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 SEC, which is accessible through the SEC website. 1.98% of the stock is currently owned by insiders.

BlackRock Trading Down 0.5%

NYSE:BLK opened at $974.60 on Friday. 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 firm has a 50-day moving average of $948.55 and a 200-day moving average of $969.93. The company has a market cap of $150.99 billion, a PE ratio of 23.68, a PEG ratio of 2.96 and a beta of 1.41. BlackRock has a one year low of $773.74 and a one year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS 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 net margin of 30.09% and a return on equity of 15.57%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $9.81 earnings per share. As a group, equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders 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 dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BLK shares. Bank of America dropped their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Argus upped their price objective on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. 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 report on Monday, April 14th. Finally, Barclays upped their price objective on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,096.31.

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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