CW Advisors LLC Buys 2,131 Shares of BlackRock $BLK

Key Points

• CW Advisors LLC increased its stake in BlackRock by 261.2% in the first quarter, now holding 2,947 shares valued at $2.80 million.
• BlackRock reported quarterly earnings of $12.05 per share, surpassing analyst estimates of $10.41, with revenues of $5.42 billion.
• The company announced a quarterly dividend of $5.21 per share, representing an annual yield of 1.8%, scheduled for payment on September 23rd.

CW Advisors LLC lifted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 261.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,947 shares of the asset manager's stock after purchasing an additional 2,131 shares during the period. CW Advisors LLC's holdings in BlackRock were worth $2,800,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fairway Wealth LLC grew its holdings in shares of 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 purchasing an additional 13 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in shares of BlackRock during the fourth quarter valued at $30,000. Cheviot Value Management LLC acquired a new position in shares of BlackRock during the first quarter valued at $30,000. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock during the first quarter valued at $31,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in shares of BlackRock during the first quarter valued at $34,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 0.2%

Shares of NYSE BLK traded down $2.03 during mid-day trading on Friday, reaching $1,128.45. 356,048 shares of the company's stock were exchanged, compared to its average volume of 487,929. The firm has a market capitalization of $174.74 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.16 and a beta of 1.42. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $1,101.81 and a 200 day simple moving average of $997.48. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89.

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

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLK. UBS Group reaffirmed a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Wells Fargo & Company cut their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Argus reaffirmed a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Zacks Research lowered BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director owned 61,369 shares of the company's stock, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 in the last ninety days. Corporate insiders own 1.98% of the company's stock.

BlackRock 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.