L.M. Kohn & Company Reduces Position in BlackRock, Inc. (NYSE:BLK)

L.M. Kohn & Company lowered its stake in BlackRock, Inc. (NYSE:BLK) by 9.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 936 shares of the asset manager’s stock after selling 100 shares during the period. L.M. Kohn & Company’s holdings in BlackRock were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairscale Capital LLC acquired a new position in BlackRock during the second quarter valued at $31,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC lifted its holdings in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Addison Advisors LLC boosted its stake in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in BlackRock in the second quarter valued at approximately $53,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. TD Cowen increased their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com started coverage on BlackRock in a report on Friday. They issued a “hold” rating for the company. Finally, Wells Fargo & Company raised their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Trading Up 0.3 %

Shares of BLK stock opened at $1,022.80 on Friday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $742.22 and a twelve month high of $1,068.34. The company’s 50-day moving average price is $994.93 and its 200-day moving average price is $887.71. The stock has a market cap of $158.41 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.82 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $10.91 EPS. As a group, equities analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.99%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

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.