Kingswood Wealth Advisors LLC Has $780,000 Position in BlackRock (NYSE:BLK)

Kingswood Wealth Advisors LLC lowered its stake in BlackRock (NYSE:BLK) by 13.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Amalgamated Bank grew its holdings in BlackRock by 1.7% during the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock worth $29,432,000 after acquiring an additional 489 shares during the period. Oregon Public Employees Retirement Fund lifted its position in BlackRock by 4.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock valued at $12,793,000 after acquiring an additional 578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in BlackRock by 6.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock valued at $67,038,000 after acquiring an additional 4,210 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in BlackRock in the 4th quarter valued at $15,307,000. Finally, Portland Financial Advisors Inc bought a new stake in BlackRock during the 4th quarter worth about $353,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. TD Cowen decreased their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Argus increased their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley reduced their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,096.31.

BlackRock Trading Down 0.5%

NYSE:BLK opened at $974.60 on Friday. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization 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 firm has a fifty day simple moving average of $948.55 and a two-hundred day simple moving average of $970.38. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $9.81 earnings per share. Analysts expect that BlackRock will post 47.41 EPS for the current fiscal 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 given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s payout ratio is currently 50.63%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated 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 sale, the director now owns 66,034 shares of the company’s stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is owned by insiders.

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.