Kanawha Capital Management LLC Has $5.28 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Kanawha Capital Management LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,154 shares of the asset manager’s stock after buying an additional 74 shares during the quarter. Kanawha Capital Management LLC’s holdings in BlackRock were worth $5,283,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in BlackRock during the third quarter worth $26,000. Collier Financial acquired a new stake in BlackRock in the fourth quarter valued at $32,000. Atwood & Palmer Inc. acquired a new stake in BlackRock in the fourth quarter valued at $36,000. West Financial Advisors LLC acquired a new stake in BlackRock in the fourth quarter valued at $39,000. Finally, Reston Wealth Management LLC acquired a new stake in BlackRock in the third quarter valued at $37,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.7 %

BlackRock stock opened at $980.48 on Friday. 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 $1,084.22. The firm has a 50 day moving average price of $1,021.99 and a two-hundred day moving average price of $971.97. The firm has a market cap of $151.86 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 1.93 and a beta of 1.28.

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

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $5.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.13%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is currently 49.62%.

Analyst Ratings Changes

A number of analysts have commented on BLK shares. Citigroup increased their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, StockNews.com assumed coverage on shares of BlackRock in a research report on Sunday, February 9th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Activity

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

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.