Blue Zone Wealth Advisors LLC Has $5.51 Million Stock Holdings in BlackRock $BLK

Blue Zone Wealth Advisors LLC increased its position in shares of BlackRock (NYSE:BLK) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,247 shares of the asset manager’s stock after acquiring an additional 348 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in BlackRock were worth $5,505,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BLK. Royal Bank of Canada lifted its stake in BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after buying an additional 555,098 shares during the period. Vanguard Group Inc. lifted its stake in BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after buying an additional 387,466 shares during the period. Goldman Sachs Group Inc. lifted its stake in BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after buying an additional 279,336 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in BlackRock in the second quarter valued at about $231,000. Finally, Unisphere Establishment lifted its stake in BlackRock by 29.2% in the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after buying an additional 189,500 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 3.0%

NYSE:BLK opened at $1,132.12 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market cap of $175.31 billion, a PE ratio of 27.37, a PEG ratio of 2.22 and a beta of 1.45. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,184.13. The stock has a 50-day simple moving average of $1,134.85 and a 200 day simple moving average of $1,034.64.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $10.36 earnings per share. On average, sell-side analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a dividend of $5.21 per share. The ex-dividend date was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. The Goldman Sachs Group raised their price target on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. BMO Capital Markets initiated coverage on BlackRock in a research report on Friday, October 3rd. They set an “outperform” rating and a $1,280.00 price target on the stock. Morgan Stanley raised their price target on BlackRock from $1,224.00 to $1,362.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Finally, Bank of America raised their price target on BlackRock from $1,224.00 to $1,396.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,258.56.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

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.