Kolinsky Wealth Management LLC Grows Stock Position in BlackRock, Inc. (NYSE:BLK)

Kolinsky Wealth Management LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 777 shares of the asset manager’s stock after acquiring an additional 37 shares during the period. Kolinsky Wealth Management LLC’s holdings in BlackRock were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of BlackRock by 0.5% in 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 purchasing an additional 68,405 shares during the period. Capital World Investors boosted its position in BlackRock by 2.3% during the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock worth $4,200,450,000 after acquiring an additional 93,844 shares during the period. Geode Capital Management LLC lifted its holdings in BlackRock by 6.8% in the 4th 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 during the last quarter. FMR LLC raised its holdings in shares of 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 during the period. Finally, Norges Bank acquired a new stake in shares of BlackRock during the 4th quarter valued at $2,356,357,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several analyst reports. StockNews.com began coverage on shares of BlackRock in a report on Friday, May 16th. They issued a “hold” rating on the stock. UBS Group reduced their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Bank of America reduced their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. TD Cowen dropped their price objective on 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. Finally, Wells Fargo & Company cut their price objective on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,077.08.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 12,430 shares of company stock valued at $11,237,249 over the last 90 days. Insiders own 1.98% of the company’s stock.

BlackRock Stock Up 0.5%

BLK opened at $998.24 on Wednesday. The firm has a 50-day simple moving average of $919.68 and a two-hundred day simple moving average of $978.24. BlackRock, Inc. has a 52 week low of $752.30 and a 52 week high of $1,084.22. The company has a market capitalization of $154.65 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.81 earnings per share. Analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s payout ratio is 50.63%.

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.