Blue Zone Wealth Advisors LLC Buys 504 Shares of BlackRock, Inc. (NYSE:BLK)

Blue Zone Wealth Advisors LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,899 shares of the asset manager's stock after acquiring an additional 504 shares during the period. Blue Zone Wealth Advisors LLC's holdings in BlackRock were worth $4,637,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its stake in BlackRock by 1.7% during the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after acquiring an additional 489 shares during the period. Oregon Public Employees Retirement Fund increased its stake in BlackRock by 4.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock worth $12,793,000 after acquiring an additional 578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in BlackRock by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after acquiring an additional 4,210 shares during the period. Polar Capital Holdings Plc bought a new position in BlackRock during the 4th quarter worth $15,307,000. Finally, Alberta Investment Management Corp increased its stake in shares of BlackRock by 242.3% in the 4th quarter. Alberta Investment Management Corp now owns 21,905 shares of the asset manager's stock valued at $22,455,000 after purchasing an additional 15,505 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director now owns 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research analyst reports. Barclays boosted their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Bank of America lowered their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. lowered their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley lowered their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Finally, UBS Group lowered their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and an average price target of $1,082.46.

BlackRock Price Performance

Shares of BLK opened at $990.26 on Friday. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The business has a 50-day simple moving average of $925.28 and a two-hundred day simple moving average of $973.54. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market cap of $153.42 billion, a PE ratio of 23.58, a PEG ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the prior year, the firm earned $9.81 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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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