Kolinsky Wealth Management LLC Increases Stake in BlackRock, Inc. (NYSE:BLK)

Kolinsky Wealth Management LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 5.0% in the fourth quarter, according to the company in its most recent 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 quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IAG Wealth Partners LLC purchased a new position in shares of BlackRock during the 4th quarter worth $26,000. Collier Financial purchased a new stake in BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock in the fourth quarter valued at $33,000. Atwood & Palmer Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at about $36,000. Finally, Synergy Investment Management LLC acquired a new position in BlackRock during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BLK. Citigroup cut their target price on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. StockNews.com started coverage on BlackRock in a report on Friday, May 16th. They issued a “hold” rating for the company. Wells Fargo & Company cut their price target on 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. Barclays raised their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Finally, TD Cowen decreased their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,077.08.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 430 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the transaction, the director now directly owns 3,720 shares of the company’s stock, valued at approximately $3,531,656.40. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is owned by insiders.

BlackRock Stock Up 0.5%

NYSE BLK opened at $998.24 on Wednesday. The company has a market capitalization of $154.65 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.90 and a beta of 1.41. The stock’s 50 day moving average is $919.68 and its two-hundred day moving average is $978.24. 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 $752.30 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 16.32% and a net margin of 31.21%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $9.81 EPS. Equities analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

BlackRock Company 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.