BlackRock (NYSE:BLK) Shares Acquired by Savvy Advisors Inc.

Key Points

• Savvy Advisors Inc. increased its stake in BlackRock by 166.3% in Q1, owning 1,036 shares valued at approximately $980,000.
• Several institutional investors, including National Bank of Canada FI and AlphaCore Capital LLC, also significantly increased their holdings in BlackRock during the same quarter, reflecting strong institutional interest in the stock.
• BlackRock reported an impressive EPS of $12.05 in its latest earnings, exceeding analyst expectations, along with a quarterly dividend of $5.21 planned for distribution on September 23rd.

Savvy Advisors Inc. grew its holdings in BlackRock (NYSE:BLK - Free Report) by 166.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,036 shares of the asset manager's stock after buying an additional 647 shares during the period. Savvy Advisors Inc.'s holdings in BlackRock were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC raised its position in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock in the fourth quarter valued at about $30,000. Cheviot Value Management LLC purchased a new stake in shares of BlackRock in the first quarter valued at 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. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLK has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Wells Fargo & Company cut their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. The Goldman Sachs Group restated a "buy" rating and set a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

Insider Activity at BlackRock

In other news, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 12,054 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the sale, the chief executive officer owned 251,697 shares of the company's stock, valued at $283,267,354.71. This represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last 90 days. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Up 0.3%

Shares of NYSE BLK traded up $3.49 during midday trading on Monday, hitting $1,128.46. The company's stock had a trading volume of 575,613 shares, compared to its average volume of 668,852. The business's fifty day simple moving average is $1,054.94 and its two-hundred day simple moving average is $985.12. 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 1 year low of $773.74 and a 1 year high of $1,133.07. The firm has a market capitalization of $174.83 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42.

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

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders 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 dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's payout ratio is currently 50.39%.

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.