Kingswood Wealth Advisors LLC Grows Stock Position in BlackRock, Inc. (NYSE:BLK)

Kingswood Wealth Advisors LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.5% during the first quarter, Holdings Channel.com reports. The fund owned 696 shares of the asset manager’s stock after acquiring an additional 17 shares during the period. Kingswood Wealth Advisors LLC’s holdings in BlackRock were worth $581,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in BlackRock during the 4th quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $28,000. Pineridge Advisors LLC purchased a new position in BlackRock in the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA lifted its position in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in BlackRock during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

BlackRock Trading Down 0.9 %

Shares of BlackRock stock opened at $787.08 on Thursday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company has a market cap of $116.96 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.34. The firm has a 50-day simple moving average of $777.24 and a two-hundred day simple moving average of $792.54.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s payout ratio is presently 51.84%.

About BlackRock

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.