BlackRock, Inc. (NYSE:BLK) Stock Holdings Lessened by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 87.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,094 shares of the asset manager’s stock after selling 7,502 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in BlackRock were worth $1,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legacy Capital Group California Inc. raised its position in BlackRock by 2.8% during the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock valued at $377,000 after acquiring an additional 10 shares in the last quarter. 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 acquiring an additional 11 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in BlackRock by 2.1% during the fourth 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 raised its position in BlackRock by 4.5% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock valued at $263,000 after acquiring an additional 11 shares in the last quarter. Finally, Convergence Financial LLC raised its position in BlackRock by 1.6% during the fourth quarter. Convergence Financial LLC now owns 783 shares of the asset manager’s stock valued at $802,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock 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 sale, the director now owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.98% of the company’s stock.

BlackRock Trading Up 1.0%

Shares of BlackRock stock opened at $981.36 on Tuesday. The company’s fifty day simple moving average is $941.17 and its 200-day simple moving average is $971.08. The company has a market cap of $152.04 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1 year low of $766.05 and a 1 year high of $1,084.22.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 31.21% and a return on equity of 16.32%. BlackRock’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $9.81 earnings per share. As a group, sell-side analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.12%. BlackRock’s payout ratio is 50.63%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Morgan Stanley lowered their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Barclays increased their price target on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, April 14th. Bank of America lowered their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Finally, Citigroup lowered their price target on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,082.46.

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.