Koshinski Asset Management Inc. Invests $919,000 in BlackRock, Inc. (NYSE:BLK)

Koshinski Asset Management Inc. bought a new stake in BlackRock, Inc. (NYSE:BLK) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,102 shares of the asset manager’s stock, valued at approximately $919,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bath Savings Trust Co bought a new position in shares of BlackRock in the fourth quarter valued at $233,000. Dfpg Investments LLC lifted its stake in BlackRock by 146.1% in the 4th quarter. Dfpg Investments LLC now owns 1,639 shares of the asset manager’s stock valued at $1,285,000 after purchasing an additional 973 shares during the last quarter. Nordea Investment Management AB increased its position in BlackRock by 2.8% during the fourth quarter. Nordea Investment Management AB now owns 10,213 shares of the asset manager’s stock worth $8,301,000 after buying an additional 278 shares during the last quarter. Fulcrum Capital LLC bought a new stake in BlackRock in the fourth quarter valued at approximately $5,417,000. Finally, BKM Wealth Management LLC bought a new stake in BlackRock in the 4th quarter valued at $2,810,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 0.4 %

BlackRock stock traded down $2.96 during midday trading on Thursday, reaching $838.13. The stock had a trading volume of 150,826 shares, compared to its average volume of 599,381. The company has a fifty day moving average price of $790.82 and a two-hundred day moving average price of $793.48. The company has a market capitalization of $124.55 billion, a P/E ratio of 21.38, a PEG ratio of 1.87 and a beta of 1.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $851.88.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the business posted $9.28 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that BlackRock, Inc. will post 41.12 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.43%. BlackRock’s payout ratio is 51.84%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on BlackRock from $924.00 to $912.00 and set a “buy” rating on the stock in a research note on Tuesday. Argus lifted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday. Evercore ISI increased their target price on BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, UBS Group reduced their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $872.29.

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.