BlackRock (NYSE:BLK) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 93.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,752 shares of the asset manager's stock after acquiring an additional 7,131 shares during the quarter. Kingsview Wealth Management LLC's holdings in BlackRock were worth $13,963,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised 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 valued at $13,712,493,000 after buying an additional 68,405 shares during the period. Capital World Investors raised its holdings in 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 buying an additional 93,844 shares during the period. GAMMA Investing LLC raised its holdings in 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 buying an additional 3,496,740 shares during the period. Geode Capital Management LLC raised its holdings in 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 buying an additional 190,188 shares during the period. Finally, FMR LLC raised its holdings in BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after buying an additional 26,485 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Up 2.3%

BLK stock traded up $24.66 during trading on Thursday, reaching $1,106.90. 1,175,589 shares of the company traded hands, compared to its average volume of 702,455. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The company has a market capitalization of $171.49 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. The business has a 50 day simple moving average of $1,006.37 and a 200 day simple moving average of $972.22. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,117.19.

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

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is 50.39%.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director owned 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLK. Barclays increased their target price on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Argus reiterated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. TD Cowen reduced their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, Wells Fargo & Company dropped their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus target price 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.