Koshinski Asset Management Inc. Sells 31 Shares of BlackRock, Inc. (NYSE:BLK)

Koshinski Asset Management Inc. decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,048 shares of the asset manager’s stock after selling 31 shares during the period. Koshinski Asset Management Inc.’s holdings in BlackRock were worth $1,075,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BLK. Amplius Wealth Advisors LLC bought a new position in shares of BlackRock in the fourth quarter worth about $337,000. Harbor Investment Advisory LLC bought a new position in BlackRock in the 4th quarter valued at approximately $7,433,000. Zhang Financial LLC grew its stake in shares of BlackRock by 5.8% during the fourth quarter. Zhang Financial LLC now owns 945 shares of the asset manager’s stock worth $969,000 after buying an additional 52 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its stake in shares of BlackRock by 23.2% in the 4th quarter. Guinness Atkinson Asset Management Inc now owns 1,244 shares of the asset manager’s stock valued at $1,275,000 after acquiring an additional 234 shares during the last quarter. Finally, Guinness Asset Management LTD boosted its holdings in shares of BlackRock by 5.3% during the 4th quarter. Guinness Asset Management LTD now owns 263,828 shares of the asset manager’s stock valued at $270,456,000 after acquiring an additional 13,344 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BLK has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Wells Fargo & Company upped their price target on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. UBS Group upped their target price on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, TD Cowen boosted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Stock Up 0.7 %

Shares of NYSE:BLK opened at $1,011.87 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45. The business’s 50 day simple moving average is $1,026.34 and its two-hundred day simple moving average is $949.91. The firm has a market cap of $156.72 billion, a P/E ratio of 24.09, a PEG ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the firm posted $9.66 EPS. BlackRock’s revenue was up 22.6% compared to the same quarter last year. As a group, research analysts forecast that BlackRock, Inc. will post 47.23 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.02%. BlackRock’s payout ratio is 48.57%.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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.