MOKAN Wealth Management Inc. Takes $1.20 Million Position in BlackRock, Inc. (NYSE:BLK)

MOKAN Wealth Management Inc. purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,169 shares of the asset manager’s stock, valued at approximately $1,196,000.

Several other hedge funds also recently modified their holdings of the company. Blue Zone Wealth Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter worth $4,505,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter worth $248,000. Strategic Financial Concepts LLC acquired a new position in shares of BlackRock in the 4th quarter worth $34,700,000. Allworth Financial LP grew its holdings in shares of BlackRock by 65.1% in the 4th quarter. Allworth Financial LP now owns 2,480 shares of the asset manager’s stock worth $2,496,000 after acquiring an additional 978 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of BlackRock by 4.8% in the 4th quarter. Principal Securities Inc. now owns 5,547 shares of the asset manager’s stock worth $5,687,000 after acquiring an additional 255 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

NYSE BLK opened at $973.22 on Friday. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The stock’s 50-day moving average is $1,019.28 and its two-hundred day moving average is $972.80. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm has a market cap of $150.73 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the company earned $9.66 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. On average, analysts anticipate that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is 48.57%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays decreased their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company raised their target price on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their target price 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. Citigroup raised their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods decreased their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now 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. Insiders have sold a total of 110,190 shares of company stock worth $115,163,141 over the last three months. Corporate insiders own 0.90% of the company’s stock.

About BlackRock

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.