Kingswood Wealth Advisors LLC Purchases 186 Shares of BlackRock, Inc. (NYSE:BLK)

Kingswood Wealth Advisors LLC lifted its holdings in BlackRock, Inc. (NYSE:BLKFree Report) by 37.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 679 shares of the asset manager’s stock after acquiring an additional 186 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in BlackRock were worth $551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in BlackRock by 1.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after buying an additional 21 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of BlackRock by 47,042.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 33,000 shares of the asset manager’s stock valued at $22,808,000 after purchasing an additional 32,930 shares during the period. Sara Bay Financial bought a new stake in shares of BlackRock during the fourth quarter worth $387,000. Aspen Grove Capital LLC acquired a new position in BlackRock during the 2nd quarter valued at about $208,000. Finally, BKM Wealth Management LLC purchased a new position in BlackRock during the fourth quarter worth about $2,758,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BLK. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group boosted their price objective on BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. BNP Paribas upgraded shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target for the company in a report on Tuesday, December 12th. JPMorgan Chase & Co. downgraded shares of BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 price objective for the company. in a research report on Friday, December 15th. Finally, The Goldman Sachs Group increased their price objective on shares of BlackRock from $719.00 to $793.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $785.73.

Get Our Latest Stock Analysis on BLK

Insider Buying and Selling at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the transaction, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,511 shares of company stock worth $71,864,028. 1.06% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of NYSE BLK opened at $820.21 on Wednesday. The business’s 50-day simple moving average is $803.63 and its 200-day simple moving average is $741.11. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The firm has a market cap of $122.16 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.82 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLKGet Free Report) last issued its earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, topping the consensus estimate of $8.84 by $0.82. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $8.93 EPS. As a group, equities research analysts expect that BlackRock, Inc. will post 39.73 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th were paid a dividend of $5.10 per share. The ex-dividend date was Wednesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $5.00. This represents a $20.40 annualized dividend and a dividend yield of 2.49%. BlackRock’s payout ratio is currently 55.88%.

BlackRock Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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