Strategies Wealth Advisors LLC Invests $466,000 in BlackRock $BLK

Key Points

• Strategies Wealth Advisors LLC acquired a new stake in BlackRock, investing approximately $466,000 for 492 shares during the 1st quarter.
• Several hedge funds increased their stakes in BlackRock, with Integrated Wealth Concepts LLC boosting its position by 159.3% in the last quarter.
• BlackRock's quarterly earnings surpassed expectations, reporting $12.05 earnings per share against an estimate of $10.41, contributing to a 12.9% increase in revenue year-over-year.

Strategies Wealth Advisors LLC bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 492 shares of the asset manager's stock, valued at approximately $466,000.

A number of other large investors have also recently made changes to their positions in BLK. Fairway Wealth LLC lifted its holdings in 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 purchasing an additional 13 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the fourth quarter valued at about $30,000. Cheviot Value Management LLC purchased a new stake in shares of BlackRock in the first quarter worth about $30,000. MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock in the first quarter worth about $31,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $34,000. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on BLK. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods cut their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Finally, Morgan Stanley lowered their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,151.21.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 14,828 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the sale, the chief executive officer owned 263,751 shares in the company, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction on Thursday, July 24th. The stock was 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 in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock Trading Down 0.2%

NYSE:BLK traded down $2.16 during mid-day trading on Wednesday, reaching $1,137.64. 141,683 shares of the company's stock traded hands, compared to its average volume of 749,563. The company has a 50 day moving average price of $1,092.57 and a 200-day moving average price of $994.55. The firm has a market capitalization of $176.17 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 2.18 and a beta of 1.42. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.36 earnings per share. On average, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

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.