BlackRock $BLK Shares Acquired by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC increased its stake in BlackRock by 10.9% during Q2, holding a total of 3,581 shares valued at approximately $3.76 million.
• BlackRock's stock recently rose by 0.9%, opening at $1,157.69, with a market capitalization of $179.27 billion.
• The company reported earnings per share of $12.05 for the last quarter, exceeding expectations and reflecting a 12.9% year-over-year revenue growth.

Avior Wealth Management LLC increased its holdings in BlackRock (NYSE:BLK - Free Report) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,581 shares of the asset manager's stock after buying an additional 351 shares during the period. Avior Wealth Management LLC's holdings in BlackRock were worth $3,758,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Securian Asset Management Inc. acquired a new position in shares of BlackRock in the 1st quarter valued at about $7,331,000. Prudent Man Advisors LLC acquired a new position in shares of BlackRock in the 1st quarter valued at about $2,018,000. Allianz SE boosted its holdings in shares of BlackRock by 2.6% in the 1st quarter. Allianz SE now owns 11,025 shares of the asset manager's stock valued at $10,435,000 after buying an additional 277 shares during the period. Arizona State Retirement System acquired a new position in shares of BlackRock in the 1st quarter valued at about $40,868,000. Finally, Community Financial Services Group LLC boosted its stake in BlackRock by 17.2% during the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock valued at $5,397,000 after purchasing an additional 836 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Up 0.9%

NYSE BLK opened at $1,157.69 on Friday. The company's 50 day simple moving average is $1,124.77 and its 200 day simple moving average is $1,020.52. The company has a market capitalization of $179.27 billion, a P/E ratio of 27.99, a PEG ratio of 2.21 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,171.89.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results 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 business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm posted $10.36 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock's payout ratio is presently 50.39%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of 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. JPMorgan Chase & Co. boosted their target price 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. Zacks Research lowered shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Evercore ISI boosted their target price on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Finally, UBS Group restated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,154.07.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 14,828 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares of the company's stock, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at $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. Over the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

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.

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