Kingswood Wealth Advisors LLC Sells 125 Shares of BlackRock (NYSE:BLK)

Kingswood Wealth Advisors LLC lowered its holdings in BlackRock (NYSE:BLK) by 13.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 825 shares of the asset manager’s stock after selling 125 shares during the period. Kingswood Wealth Advisors LLC’s holdings in BlackRock were worth $780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock valued at $13,712,493,000 after acquiring an additional 68,405 shares in the last quarter. Capital World Investors grew its stake in BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock valued at $4,200,450,000 after acquiring an additional 93,844 shares in the last quarter. GAMMA Investing LLC grew its stake in BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC grew its stake in BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock valued at $3,072,787,000 after acquiring an additional 190,188 shares in the last quarter. Finally, FMR LLC grew its stake in BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock valued at $2,450,475,000 after acquiring an additional 26,485 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 0.5%

Shares of BLK opened at $974.60 on Friday. The firm has a market cap of $150.99 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.97 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22. The firm has a 50 day moving average price of $948.55 and a 200-day moving average price of $970.38.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same period in the prior year, the business posted $9.81 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.14%. BlackRock’s dividend payout ratio is currently 50.63%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on BLK. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Morgan Stanley cut their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Barclays boosted their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, April 14th. Finally, Bank of America cut their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,096.31.

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.