Blue Zone Wealth Advisors LLC Acquires 348 Shares of BlackRock $BLK

Key Points

• Blue Zone Wealth Advisors LLC increased its stake in BlackRock by 7.1%, owning a total of 5,247 shares valued at approximately $5.5 million.
• BlackRock reported an EPS of $12.05, exceeding analyst estimates, and recorded a revenue of $5.42 billion for the latest quarter.
• BlackRock declared a quarterly dividend of $5.21 per share, resulting in an annualized dividend of $20.84 and a yield of 1.8%.

Blue Zone Wealth Advisors LLC boosted its holdings in BlackRock (NYSE:BLK - Free Report) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,247 shares of the asset manager's stock after buying an additional 348 shares during the period. Blue Zone Wealth Advisors LLC's holdings in BlackRock were worth $5,505,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BLK. Fairway Wealth LLC increased its holdings in BlackRock by 76.5% in the 1st 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 period. Game Plan Financial Advisors LLC increased its holdings in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 15 shares during the period. Garde Capital Inc. increased its holdings in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock valued at $28,000 after buying an additional 18 shares during the period. Cheviot Value Management LLC bought a new stake in BlackRock in the 1st quarter valued at $30,000. Finally, MorganRosel Wealth Management LLC bought a new stake in BlackRock in the 1st quarter valued at $31,000. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

Shares of BLK stock opened at $1,132.12 on Friday. The stock's fifty day moving average is $1,134.85 and its 200-day moving average is $1,034.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market capitalization of $175.31 billion, a PE ratio of 27.37, a PEG ratio of 2.22 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13.

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

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued 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 was Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

Insiders Place Their Bets

In other news, Director Fabrizio Freda sold 4,434 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction on Friday, July 25th. The shares were 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 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 ninety days. Company insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BLK. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. BMO Capital Markets began coverage on BlackRock in a research report on Friday, October 3rd. They issued an "outperform" rating and a $1,280.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,221.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday. Barclays upped their price target on BlackRock from $1,210.00 to $1,310.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their price target on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,258.56.

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.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.