Blue Zone Wealth Advisors LLC Buys New Position in BlackRock, Inc. (NYSE:BLK)

Blue Zone Wealth Advisors LLC bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,395 shares of the asset manager's stock, valued at approximately $4,505,000.

A number of other large investors have also recently bought and sold shares of BLK. Oddo BHF Asset Management Sas acquired a new position in BlackRock during the third quarter worth $518,000. Erste Asset Management GmbH bought a new stake in BlackRock during the third quarter worth about $32,904,000. Raymond James Trust N.A. boosted its position in BlackRock by 2.3% during the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager's stock valued at $25,724,000 after purchasing an additional 614 shares during the last quarter. MML Investors Services LLC grew its stake in BlackRock by 2.8% in the third quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager's stock valued at $65,010,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager's stock worth $3,169,000 after purchasing an additional 565 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares of the company's stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now owns 68,433 shares of the company's stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock worth $115,163,141 in the last ninety days. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BLK. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $914.00 to $971.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Barclays reduced their price target on BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Keefe, Bruyette & Woods dropped their target price on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,120.67.

BlackRock Price Performance

BLK traded up $9.22 during trading on Wednesday, hitting $987.08. 759,720 shares of the stock traded hands, compared to its average volume of 810,105. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The company has a market cap of $152.88 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.87 and a beta of 1.28. The business has a 50 day moving average price of $1,014.60 and a 200 day moving average price of $975.94.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $9.66 EPS. The firm's revenue was up 22.6% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from BlackRock's previous quarterly dividend of $5.10. BlackRock's dividend payout ratio (DPR) is 48.57%.

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.