Koshinski Asset Management Inc. Decreases Position in BlackRock, Inc. (NYSE:BLK)

Koshinski Asset Management Inc. trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,048 shares of the asset manager’s stock after selling 31 shares during the quarter. Koshinski Asset Management Inc.’s holdings in BlackRock were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of BlackRock by 0.7% during the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after acquiring an additional 42,757 shares during the period. Geode Capital Management LLC boosted its position in BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after purchasing an additional 30,182 shares during the period. FMR LLC increased its stake in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after purchasing an additional 226,135 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of BlackRock by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after buying an additional 40,865 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after buying an additional 46,728 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BLK shares. Morgan Stanley increased their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI raised their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. UBS Group raised their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, TD Cowen increased their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,011.87 on Wednesday. The stock’s 50-day moving average is $1,026.34 and its 200 day moving average is $949.91. The stock has a market cap of $156.72 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the firm posted $9.66 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock, Inc. will post 47.23 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.02%. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were 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 approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% 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.