Kohmann Bosshard Financial Services LLC Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Kohmann Bosshard Financial Services LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 60 shares of the asset manager’s stock, valued at approximately $61,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter worth $26,000. Collier Financial acquired a new stake in BlackRock in the 4th quarter worth $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock during the 4th quarter worth about $33,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock during the 4th quarter worth about $36,000. Finally, West Financial Advisors LLC bought a new position in shares of BlackRock during the 4th quarter worth about $39,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BLK shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. UBS Group raised their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Barclays reduced their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, StockNews.com started coverage on shares of BlackRock in a report on Tuesday, February 25th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Transactions at BlackRock

In other news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the transaction, the director now owns 68,433 shares in the company, valued at $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,190 shares of company stock worth $115,163,141. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK stock opened at $965.18 on Tuesday. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,084.22. The firm’s 50 day moving average is $1,002.25 and its 200-day moving average is $983.33. The firm has a market capitalization of $149.49 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.90 and a beta of 1.28. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the business earned $9.66 earnings per share. BlackRock’s quarterly revenue was up 22.6% on a year-over-year basis. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is presently 49.62%.

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.