BlackRock (NYSE:BLK) Shares Purchased by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors has significantly increased its holdings in BlackRock by 224.9%, owning approximately $3.47 million worth of stock at the end of the recent reporting period.
• BlackRock announced a quarterly dividend of $5.21 per share to be paid on September 23rd, reflecting an annualized dividend yield of 1.87% and a payout ratio of 50.39%.
• Analysts have mixed recommendations on BlackRock, with a consensus rating of "Moderate Buy" and a target price of $1,151.21, influenced by recent adjustments to price targets from various financial institutions.

Arkadios Wealth Advisors increased its holdings in BlackRock (NYSE:BLK - Free Report) by 224.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,662 shares of the asset manager's stock after acquiring an additional 2,535 shares during the period. Arkadios Wealth Advisors' holdings in BlackRock were worth $3,466,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC increased its stake in BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 13 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of BlackRock during the fourth quarter worth about $30,000. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock during the first quarter worth about $31,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of BlackRock during the first quarter worth about $34,000. Finally, N.E.W. Advisory Services LLC acquired a new position in BlackRock in the first quarter valued at approximately $37,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the sale, the chief executive officer owned 263,751 shares in the company, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by corporate insiders.

BlackRock Price Performance

NYSE:BLK traded down $14.72 during trading hours on Friday, hitting $1,091.29. The company's stock had a trading volume of 672,794 shares, compared to its average volume of 646,030. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The company has a market capitalization of $169.07 billion, a PE ratio of 26.39, a PEG ratio of 2.24 and a beta of 1.42. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,130.66. The business's 50-day moving average is $1,040.67 and its two-hundred day moving average is $981.66.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. BlackRock's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.36 earnings per share. As a group, research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.9%. BlackRock's dividend payout ratio is 50.39%.

Analyst Ratings Changes

BLK has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. TD Cowen lowered their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Morgan Stanley reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.

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.