Kingswood Wealth Advisors LLC Sells 180 Shares of BlackRock, Inc. (NYSE:BLK)

Kingswood Wealth Advisors LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 15.9% during the 4th quarter, HoldingsChannel reports. The fund owned 950 shares of the asset manager’s stock after selling 180 shares during the period. Kingswood Wealth Advisors LLC’s holdings in BlackRock were worth $974,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in shares of BlackRock during the 3rd quarter valued at $26,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock during the 4th quarter valued at $36,000. West Financial Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at $39,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock during the 3rd quarter valued at $37,000. Finally, MFA Wealth Advisors LLC boosted its holdings in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,190 shares of company stock valued at $104,436,741. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Citigroup lifted their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Morgan Stanley lifted their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,051.91 on Wednesday. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45. The firm has a market capitalization of $162.92 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.82 and a beta of 1.28. The business has a 50-day simple moving average of $1,023.82 and a 200 day simple moving average of $957.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company posted $9.66 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. On average, research analysts anticipate that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio is currently 48.57%.

BlackRock Company Profile

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.