Lifeworks Advisors LLC Buys New Shares in BlackRock (NYSE:BLK)

Key Points

• Lifeworks Advisors LLC acquired a new stake in BlackRock, purchasing 225 shares valued at approximately $213,000 during the first quarter.
• BlackRock reported $12.05 earnings per share for the last quarter, exceeding the consensus estimate and showing a year-over-year revenue increase of 12.9%.
• The company announced a quarterly dividend of $5.21 to shareholders, representing an annualized yield of 1.85% and a payout ratio of 50.39%.

Lifeworks Advisors LLC purchased a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 225 shares of the asset manager's stock, valued at approximately $213,000.

Several other large investors have also added to or reduced their stakes in the company. Fairway Wealth LLC boosted its holdings in shares of 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 acquiring an additional 13 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in shares of BlackRock during the fourth quarter worth $30,000. MorganRosel Wealth Management LLC acquired a new position in BlackRock during the first quarter valued at $31,000. CBIZ Investment Advisory Services LLC purchased a new stake in BlackRock in the first quarter valued at $34,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in BlackRock during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Stock Up 0.5%

BlackRock stock opened at $1,123.48 on Friday. The stock has a 50 day moving average of $1,027.64 and a two-hundred day moving average of $976.79. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,130.66. The stock has a market capitalization of $174.06 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.26 and a beta of 1.41. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $10.36 earnings per share. As a group, research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is 50.39%.

Analyst Ratings Changes

A number of brokerages have recently commented on BLK. Barclays upped their target price on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wells Fargo & Company lowered their price objective on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Citigroup lowered their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares of the company's stock, valued at $283,267,354.71. This trade represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the company'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 value of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,352 shares of company stock valued at $55,486,962. 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.

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