Golden State Wealth Management LLC Increases Stock Position in BlackRock (NYSE:BLK)

Golden State Wealth Management LLC boosted its position in shares of BlackRock (NYSE:BLK - Free Report) by 140.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 632 shares of the asset manager's stock after buying an additional 369 shares during the quarter. Golden State Wealth Management LLC's holdings in BlackRock were worth $599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after purchasing an additional 296 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in BlackRock by 5.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 6,206 shares of the asset manager's stock valued at $6,362,000 after buying an additional 300 shares in the last quarter. Advisor OS LLC lifted its stake in BlackRock by 87.1% in the 4th quarter. Advisor OS LLC now owns 666 shares of the asset manager's stock valued at $683,000 after buying an additional 310 shares in the last quarter. SRN Advisors LLC boosted its holdings in BlackRock by 71.7% in the 4th quarter. SRN Advisors LLC now owns 1,049 shares of the asset manager's stock worth $1,075,000 after buying an additional 438 shares during the last quarter. Finally, Nwam LLC acquired a new position in shares of BlackRock during the fourth quarter valued at approximately $534,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Stock Up 1.3%

BLK stock opened at $1,031.38 on Friday. BlackRock has a one year low of $773.74 and a one year high of $1,084.22. The firm has a market cap of $159.79 billion, a PE ratio of 25.06, a PEG ratio of 3.09 and a beta of 1.41. The firm's 50 day moving average price is $958.92 and its 200-day moving average price is $969.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.81 earnings per share. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current 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 given a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.02%. BlackRock's payout ratio is currently 50.63%.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 66,034 shares of the company's stock, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. TD Cowen dropped their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company increased their target price on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Argus upped their price objective on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Morgan Stanley cut their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Three 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, BlackRock has an average rating of "Moderate Buy" and a consensus 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.

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