Maridea Wealth Management LLC Acquires New Holdings in BlackRock (NYSE:BLK)

Key Points

• Maridea Wealth Management LLC has acquired a new position in BlackRock, purchasing 453 shares valued at approximately $429,000.
• BlackRock reported $12.05 EPS for the last quarter, exceeding analysts' expectations, with revenue up 12.9% year-over-year.
• The company has declared a quarterly dividend of $5.21, with an annualized yield of 1.86% and a payout ratio of 50.39%.

Maridea Wealth Management LLC acquired a new stake in BlackRock (NYSE:BLK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 453 shares of the asset manager's stock, valued at approximately $429,000.

A number of other institutional investors have also recently made changes to their positions in BLK. Fairway Wealth LLC lifted its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 13 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $30,000. MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock during the 1st quarter worth approximately $31,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of BlackRock during the 1st quarter worth approximately $34,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BLK. UBS Group restated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Wells Fargo & Company reduced their price target 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 reiterated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group upped their price target on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Finally, Barclays upped their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

BlackRock Trading Down 1.5%

NYSE:BLK traded down $17.06 on Friday, reaching $1,088.96. The stock had a trading volume of 299,297 shares, compared to its average volume of 781,808. The company has a market cap of $168.71 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 2.25 and a beta of 1.41. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,130.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The firm's fifty day moving average is $1,038.13 and its two-hundred day moving average is $980.77.

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

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.9%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Insider Activity at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the 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 value of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the 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 transaction of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company's stock, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,352 shares of company stock worth $55,486,962. Company insiders own 1.98% of the company's stock.

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.