Kovack Advisors Inc. Lowers Position in BlackRock, Inc. (NYSE:BLK)

Kovack Advisors Inc. decreased its holdings in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 22.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 440 shares of the asset manager’s stock after selling 129 shares during the quarter. Kovack Advisors Inc.’s holdings in BlackRock were worth $367,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new stake in BlackRock during the first quarter valued at $27,000. Tennessee Valley Asset Management Partners purchased a new stake in BlackRock during the fourth quarter valued at $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock during the fourth quarter valued at $28,000. Pineridge Advisors LLC bought a new position in BlackRock during the fourth quarter valued at $28,000. Finally, LFA Lugano Financial Advisors SA increased its position in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLK. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $915.00 price objective on shares of BlackRock in a research report on Tuesday. Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $844.17.

Read Our Latest Stock Analysis on BlackRock

BlackRock Stock Down 0.0 %

NYSE:BLK opened at $789.12 on Friday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a 50-day moving average of $780.75 and a 200 day moving average of $792.72. The firm has a market cap of $117.26 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the firm earned $7.93 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the 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 directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 9,000 shares of the 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 sale, 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

(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.

See Also

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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