KPP Advisory Services LLC Makes New $1.43 Million Investment in BlackRock (NYSE:BLK)

KPP Advisory Services LLC acquired a new stake in BlackRock (NYSE:BLK) in the 1st quarter, HoldingsChannel reports. The fund acquired 1,510 shares of the asset manager’s stock, valued at approximately $1,429,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IAG Wealth Partners LLC purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock in the fourth quarter worth about $30,000. Synergy Investment Management LLC purchased a new stake in shares of BlackRock during the 4th quarter worth about $40,000. Curio Wealth LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at about $41,000. Finally, Cedar Wealth Management LLC purchased a new position in shares of BlackRock in the 4th quarter valued at about $43,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Performance

BLK opened at $1,019.43 on Thursday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,084.22. The firm has a market capitalization of $157.94 billion, a PE ratio of 24.77, a PEG ratio of 3.05 and a beta of 1.41. 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 firm’s 50-day moving average price is $955.81 and its 200 day moving average price is $969.60.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates 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 posted $9.81 EPS. As a group, sell-side analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.04%. The ex-dividend date was Thursday, June 5th. BlackRock’s payout ratio is currently 50.63%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the transaction, the director now owns 66,034 shares of the company’s stock, valued at approximately $56,261,628.34. The trade was a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Bank of America decreased their target price 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. Barclays boosted their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Finally, Citigroup cut their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,096.31.

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.