Dumont & Blake Investment Advisors LLC Acquires 10 Shares of BlackRock $BLK

Dumont & Blake Investment Advisors LLC boosted its holdings in shares of BlackRock (NYSE:BLK) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,634 shares of the asset manager’s stock after acquiring an additional 10 shares during the quarter. BlackRock makes up approximately 1.0% of Dumont & Blake Investment Advisors LLC’s portfolio, making the stock its 20th largest holding. Dumont & Blake Investment Advisors LLC’s holdings in BlackRock were worth $3,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. bought a new position in BlackRock during the first quarter valued at approximately $7,331,000. Prudent Man Advisors LLC acquired a new position in BlackRock during the first quarter valued at approximately $2,018,000. Allianz SE grew its holdings in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after purchasing an additional 277 shares during the last quarter. Arizona State Retirement System acquired a new position in BlackRock during the first quarter valued at approximately $40,868,000. Finally, Community Financial Services Group LLC grew its holdings in BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock valued at $5,397,000 after purchasing an additional 836 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BLK. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating and set a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price target on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Finally, Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,300.81.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares in the company, valued at $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction 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 transaction, the director directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last three months. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Stock Down 0.8%

BLK opened at $1,161.63 on Friday. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm’s fifty day moving average price is $1,140.85 and its two-hundred day moving average price is $1,042.82. The company has a market capitalization of $179.88 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.01 and a beta of 1.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the prior year, the firm earned $11.46 EPS. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid 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 yield of 1.8%. BlackRock’s payout ratio is currently 53.59%.

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.