Azimuth Capital Investment Management LLC Has $31.36 Million Position in BlackRock $BLK

Key Points

• Azimuth Capital Investment Management LLC increased its stake in BlackRock by 1.2%, now holding 33,138 shares valued at approximately $31.36 million, making it the firm's 14th largest position.
• Insiders at BlackRock sold 66,494 shares worth about $74.69 million over the past ninety days, reflecting significant ownership changes among key individuals.
• BlackRock reported earnings of $12.05 per share, surpassing estimates, with revenues up 12.9% year-over-year, and announced a quarterly dividend of $5.21 per share.

Azimuth Capital Investment Management LLC grew its stake in BlackRock (NYSE:BLK - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,138 shares of the asset manager's stock after purchasing an additional 390 shares during the quarter. BlackRock makes up approximately 1.2% of Azimuth Capital Investment Management LLC's holdings, making the stock its 14th biggest holding. Azimuth Capital Investment Management LLC's holdings in BlackRock were worth $31,364,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Fairway Wealth LLC raised its stake in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 13 shares during the period. Investment Management Corp VA ADV acquired a new stake in BlackRock during the fourth quarter worth about $30,000. Cheviot Value Management LLC acquired a new stake in BlackRock during the first quarter worth about $30,000. MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the first quarter worth about $31,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in BlackRock during the first quarter worth about $34,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

BLK has been the topic of several research reports. Argus reiterated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Bank of America raised their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Barclays raised their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,151.21.

Insider Activity

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock Price Performance

BlackRock stock traded down $10.1150 during mid-day trading on Tuesday, hitting $1,126.0050. The company's stock had a trading volume of 159,812 shares, compared to its average volume of 759,955. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $174.36 billion, a P/E ratio of 27.17, a P/E/G ratio of 2.28 and a beta of 1.42. The stock's fifty day moving average price is $1,074.33 and its two-hundred day moving average price is $989.18.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the previous year, the company posted $10.36 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

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

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.