BlackRock, Inc. (NYSE:BLK) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 32.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,621 shares of the asset manager’s stock after selling 3,630 shares during the quarter. Kingsview Wealth Management LLC’s holdings in BlackRock were worth $7,813,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new stake in BlackRock during the third quarter valued at approximately $518,000. Erste Asset Management GmbH acquired a new stake in shares of BlackRock during the 3rd quarter valued at $32,904,000. Raymond James Trust N.A. boosted its stake in shares of BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after acquiring an additional 614 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of BlackRock by 2.8% in the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of BlackRock by 20.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 1.5 %

Shares of BlackRock stock opened at $991.95 on Friday. The stock has a 50-day simple moving average of $1,024.93 and a 200-day simple moving average of $968.12. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The firm has a market cap of $153.63 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 1.93 and a beta of 1.28. 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 quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the firm earned $9.66 earnings per share. On average, equities research analysts expect that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is 49.62%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BLK shares. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com started coverage on shares of BlackRock in a report on Sunday. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their target price on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, 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 report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Buying and Selling at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction 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 transaction, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares in the company, valued at $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock worth $115,163,141 over the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock 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.