Kingsman Wealth Management Inc. Takes Position in BlackRock (NYSE:BLK)

Kingsman Wealth Management Inc. acquired a new stake in BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 388 shares of the asset manager's stock, valued at approximately $367,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in BlackRock by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after buying an additional 68,405 shares during the last quarter. Capital World Investors lifted its position in shares of BlackRock by 2.3% during the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after acquiring an additional 93,844 shares during the period. GAMMA Investing LLC lifted its position in shares of BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. Geode Capital Management LLC lifted its position in shares of BlackRock by 6.8% during 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 period. Finally, FMR LLC raised its position in shares of BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock worth $2,450,475,000 after purchasing an additional 26,485 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

NYSE BLK traded up $2.66 on Thursday, hitting $1,123.03. The stock had a trading volume of 188,836 shares, compared to its average volume of 795,666. BlackRock has a one year low of $773.74 and a one year high of $1,125.76. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market cap of $173.99 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.22 and a beta of 1.41. The company's 50-day moving average is $1,022.22 and its two-hundred day moving average is $975.06.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the prior year, the firm earned $10.36 EPS. BlackRock's quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.86%. BlackRock's dividend payout ratio (DPR) is 50.39%.

Wall Street Analyst Weigh In

BLK has been the subject of several research reports. Jefferies Financial Group lifted their price objective on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Morgan Stanley decreased their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,151.21.

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.