SOA Wealth Advisors LLC. Sells 2,420 Shares of BlackRock $BLK

Key Points

• SOA Wealth Advisors LLC reduced its stake in BlackRock by 15.7%, selling 2,420 shares, and now holds 12,958 shares valued at approximately $13.6 million.
• BlackRock recently reported earnings of $12.05 per share, exceeding analyst expectations by $1.64, with a revenue of $5.42 billion during the latest quarter.
• The company announced a quarterly dividend of $5.21, with a 1.8% dividend yield and a payout ratio of 50.39%.

SOA Wealth Advisors LLC. decreased its stake in shares of BlackRock (NYSE:BLK - Free Report) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,958 shares of the asset manager's stock after selling 2,420 shares during the period. BlackRock makes up about 1.5% of SOA Wealth Advisors LLC.'s investment portfolio, making the stock its 13th largest holding. SOA Wealth Advisors LLC.'s holdings in BlackRock were worth $13,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in BLK. McLean Asset Management Corp lifted its position in shares of BlackRock by 3.9% in the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager's stock worth $285,000 after purchasing an additional 10 shares during the period. Trust Co. of Oklahoma lifted its position in shares of BlackRock by 0.5% in the 2nd quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager's stock worth $2,123,000 after purchasing an additional 10 shares during the period. TOWER TRUST & INVESTMENT Co lifted its position in shares of BlackRock by 1.3% in the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager's stock worth $838,000 after purchasing an additional 10 shares during the period. Detalus Advisors LLC lifted its position in shares of BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after purchasing an additional 11 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted its position in shares of BlackRock by 20.4% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock worth $62,000 after purchasing an additional 11 shares during the period. Institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BLK opened at $1,166.35 on Wednesday. The firm has a market cap of $180.61 billion, a P/E ratio of 28.20, a PEG ratio of 2.25 and a beta of 1.45. The firm has a 50-day moving average of $1,127.65 and a 200 day moving average of $1,024.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,183.50.

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 for the quarter, beating the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.36 earnings per share. On average, research analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the firm's 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 transaction of $4,978,539.54. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last three months. Company insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BLK shares. Bank of America increased their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Citigroup increased their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Monday. Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Finally, Argus restated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,171.93.

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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