BlackRock $BLK Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its position in BlackRock (NYSE:BLK) by 14.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 709 shares of the asset manager’s stock after selling 116 shares during the period. Kingswood Wealth Advisors LLC’s holdings in BlackRock were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Garde Capital Inc. increased its position in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the period. Fairway Wealth LLC grew its position in BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares during the period. Game Plan Financial Advisors LLC grew its position in BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the 1st quarter worth about $31,000. Finally, Cheviot Value Management LLC acquired a new stake in BlackRock during the 1st quarter worth about $30,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. Evercore ISI increased their price target on BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. The Goldman Sachs Group increased their price target on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Citigroup increased their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday. Finally, Wells Fargo & Company lowered their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,254.47.

BlackRock Trading Down 0.2%

Shares of BlackRock stock opened at $1,163.72 on Thursday. The firm has a market capitalization of $180.21 billion, a PE ratio of 28.14, a P/E/G ratio of 2.20 and a beta of 1.45. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,184.13. The firm’s 50-day moving average price is $1,132.82 and its 200 day moving average price is $1,032.16. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $10.36 EPS. On average, sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were paid a $5.21 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the sale, the chief executive officer owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 in the last quarter. Insiders own 1.98% of the company’s stock.

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.