Kingswood Wealth Advisors LLC Sells 180 Shares of BlackRock, Inc. (NYSE:BLK)

Kingswood Wealth Advisors LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 950 shares of the asset manager’s stock after selling 180 shares during the period. Kingswood Wealth Advisors LLC’s holdings in BlackRock were worth $974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. Ascent Group LLC boosted its position in shares of BlackRock by 36.2% during the second quarter. Ascent Group LLC now owns 787 shares of the asset manager’s stock worth $620,000 after buying an additional 209 shares during the period. Creative Planning boosted its position in shares of BlackRock by 1.0% during the second quarter. Creative Planning now owns 21,864 shares of the asset manager’s stock worth $17,214,000 after buying an additional 208 shares during the period. Next Capital Management LLC acquired a new position in shares of BlackRock during the second quarter worth about $214,000. Truist Financial Corp boosted its position in BlackRock by 0.5% during the second quarter. Truist Financial Corp now owns 206,265 shares of the asset manager’s stock valued at $162,397,000 after purchasing an additional 1,021 shares during the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new position in BlackRock during the second quarter valued at approximately $465,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was 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 approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,190 shares of company stock worth $104,436,741 in the last 90 days. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,051.91 on Wednesday. The firm has a market cap of $162.92 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. 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, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. The business’s 50 day moving average is $1,023.82 and its 200-day moving average is $957.41.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned $9.66 earnings per share. Equities research analysts predict that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders 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 yield of 1.94%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BLK shares. TD Cowen increased their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Barclays reduced their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Evercore ISI raised their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

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.