Blue Zone Wealth Advisors LLC Has $3.43 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Blue Zone Wealth Advisors LLC increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 62.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,116 shares of the asset manager’s stock after purchasing an additional 1,575 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in BlackRock were worth $3,432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new stake in BlackRock in the fourth quarter worth $28,000. Pineridge Advisors LLC bought a new position in shares of BlackRock during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA increased its position in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in BlackRock during the 4th quarter worth $32,000. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BLK shares. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Morgan Stanley increased their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, UBS Group boosted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Stock Up 0.8 %

NYSE BLK traded up $6.19 during trading hours on Friday, hitting $787.32. 769,459 shares of the company traded hands, compared to its average volume of 564,991. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The business’s 50-day moving average is $779.33 and its 200-day moving average is $793.03. The stock has a market capitalization of $117.00 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.63 and a beta of 1.34. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the business earned $7.93 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were issued a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. BlackRock’s payout ratio is 51.84%.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.