KMG Fiduciary Partners LLC Sells 13 Shares of BlackRock, Inc. (NYSE:BLK)

KMG Fiduciary Partners LLC lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.1% in the first quarter, Holdings Channel.com reports. The firm owned 9,799 shares of the asset manager’s stock after selling 13 shares during the period. KMG Fiduciary Partners LLC’s holdings in BlackRock were worth $8,169,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Abacus Planning Group Inc. grew its stake in shares of BlackRock by 4.0% in the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after purchasing an additional 13 shares during the last quarter. Knuff & Co LLC grew its stake in shares of BlackRock by 48.1% in the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after purchasing an additional 13 shares during the last quarter. Everhart Financial Group Inc. boosted its position in BlackRock by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares during the last quarter. Spreng Capital Management Inc. boosted its position in BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 14 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its position in BlackRock by 3.6% during the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock valued at $328,000 after acquiring an additional 14 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.6 %

Shares of BLK traded up $4.36 on Friday, reaching $787.19. The company’s stock had a trading volume of 331,684 shares, compared to its average volume of 604,678. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $116.98 billion, a PE ratio of 19.99, a PEG ratio of 1.62 and a beta of 1.34. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The firm has a fifty day moving average of $775.11 and a 200-day moving average of $790.99.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $7.93 EPS. Equities analysts predict that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, June 7th. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BLK. Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Activity

In other news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. Insiders own 0.90% 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.