Blue Zone Wealth Advisors LLC Buys 504 Shares of BlackRock, Inc. (NYSE:BLK)

Blue Zone Wealth Advisors LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 11.5% in the 1st quarter, HoldingsChannel reports. The firm owned 4,899 shares of the asset manager’s stock after acquiring an additional 504 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in BlackRock were worth $4,637,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BLK. Brighton Jones LLC grew its stake in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares during the period. Insight Advisors LLC PA acquired a new stake in BlackRock during the fourth quarter worth approximately $369,000. YANKCOM Partnership acquired a new stake in BlackRock during the fourth quarter worth approximately $83,000. Beacon Financial Advisory LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $201,000. Finally, Silver Oak Securities Incorporated acquired a new stake in BlackRock during the fourth quarter worth approximately $301,000. Institutional investors and hedge funds 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 stock’s 50 day moving average is $925.28 and its 200-day moving average is $973.54. The firm has a market capitalization of $153.42 billion, a PE ratio of 23.58, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the company earned $9.81 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. BlackRock’s dividend payout ratio is presently 50.63%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BLK shares. JPMorgan Chase & Co. decreased their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded BlackRock to a “hold” rating in a report on Saturday, May 24th. Barclays increased their price target on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. TD Cowen cut their price target 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, Wells Fargo & Company increased their price target on BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,082.46.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director now directly owns 66,034 shares of the company’s stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by company insiders.

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.