AG Asset Advisory LLC Makes New $360,000 Investment in BlackRock, Inc. (NYSE:BLK)

AG Asset Advisory LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 351 shares of the asset manager’s stock, valued at approximately $360,000. BlackRock comprises 0.4% of AG Asset Advisory LLC’s portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. IAG Wealth Partners LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at about $26,000. Investment Management Corp VA ADV purchased a new position in BlackRock during the 4th quarter worth approximately $30,000. Collier Financial acquired a new position in BlackRock during the fourth quarter worth approximately $32,000. Compass Planning Associates Inc purchased a new stake in BlackRock in the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC purchased a new stake in BlackRock in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several analyst reports. TD Cowen reduced their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Citigroup dropped their target price 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. JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a research note on Saturday. Finally, Bank of America reduced their target price on shares of 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,077.08.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director now owns 66,034 shares of the company’s stock, valued at $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Trading Down 0.6%

Shares of NYSE:BLK opened at $964.56 on Tuesday. The company has a 50 day moving average of $921.10 and a 200-day moving average of $976.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a market cap of $149.43 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the previous year, the company earned $9.81 earnings per share. BlackRock’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.16%. BlackRock’s payout ratio is presently 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.