SOA Wealth Advisors LLC. Buys 15,222 Shares of BlackRock, Inc. (NYSE:BLK)

SOA Wealth Advisors LLC. increased its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 9,757.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,378 shares of the asset manager's stock after acquiring an additional 15,222 shares during the period. BlackRock comprises about 1.7% of SOA Wealth Advisors LLC.'s holdings, making the stock its 13th largest holding. SOA Wealth Advisors LLC.'s holdings in BlackRock were worth $14,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new position in BlackRock during the 4th quarter valued at approximately $26,000. Investment Management Corp VA ADV bought a new position in BlackRock during the 4th quarter valued at approximately $30,000. Collier Financial bought a new position in BlackRock during the 4th quarter valued at approximately $32,000. Compass Planning Associates Inc bought a new position in BlackRock during the 4th quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC bought a new position in BlackRock during the 4th quarter valued at approximately $40,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Up 0.5%

BLK stock opened at $990.26 on Friday. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22. 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 firm has a market cap of $153.42 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The business has a 50 day moving average of $925.28 and a 200 day moving average of $973.18.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the business posted $9.81 EPS. The company's revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.10%. BlackRock's dividend payout ratio is 50.63%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the sale, the director now directly owns 66,034 shares in the company, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent analyst reports. Citigroup lowered their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group reduced their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wall Street Zen upgraded BlackRock to a "hold" rating in a report on Saturday, May 24th. TD Cowen reduced their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Barclays upped their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average price target of $1,082.46.

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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