Sagespring Wealth Partners LLC Has $1.64 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Sagespring Wealth Partners LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 9.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,736 shares of the asset manager’s stock after buying an additional 156 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in BlackRock were worth $1,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLK. Vanguard Group Inc. increased its holdings in BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock worth $13,712,493,000 after purchasing an additional 68,405 shares in the last quarter. Capital World Investors increased its stake in shares of BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock valued at $4,200,450,000 after buying an additional 93,844 shares during the period. GAMMA Investing LLC raised its holdings in BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Geode Capital Management LLC boosted its position in BlackRock by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock worth $3,072,787,000 after buying an additional 190,188 shares during the period. Finally, FMR LLC grew its holdings in BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock worth $2,450,475,000 after acquiring an additional 26,485 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the transaction, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BLK. Bank of America cut their price target 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. Citigroup reduced their price target on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Morgan Stanley lowered their price objective 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. Wells Fargo & Company lifted their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Finally, Barclays raised their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,082.46.

BlackRock Stock Performance

NYSE:BLK opened at $981.36 on Tuesday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a twelve month low of $766.05 and a twelve month high of $1,084.22. The company has a fifty day moving average of $941.17 and a 200-day moving average of $971.08. The firm has a market capitalization of $152.04 billion, a P/E ratio of 23.37, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.81 earnings per share. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

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

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.