Belpointe Asset Management LLC Buys 96 Shares of BlackRock $BLK

Belpointe Asset Management LLC raised its holdings in BlackRock (NYSE:BLK) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,090 shares of the asset manager’s stock after acquiring an additional 96 shares during the quarter. Belpointe Asset Management LLC’s holdings in BlackRock were worth $1,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Securian Asset Management Inc. bought a new position in shares of BlackRock during the first quarter worth $7,331,000. Prudent Man Advisors LLC bought a new position in shares of BlackRock during the first quarter worth $2,018,000. Allianz SE boosted its position in shares of BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after purchasing an additional 277 shares in the last quarter. Arizona State Retirement System bought a new position in shares of BlackRock during the first quarter worth $40,868,000. Finally, Polar Capital Holdings Plc bought a new position in shares of BlackRock during the fourth quarter worth $15,307,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the transaction, the chief executive officer owned 263,751 shares of the company’s stock, valued at $296,002,472.28. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction dated 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 completion of the transaction, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,494 shares of company stock worth $74,694,573. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. The Goldman Sachs Group restated a “buy” rating and set a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Evercore ISI raised their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,154.07.

BlackRock Stock Down 0.2%

Shares of BLK stock opened at $1,102.93 on Thursday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. The firm’s fifty day moving average price is $1,113.75 and its two-hundred day moving average price is $1,004.60. The firm has a market capitalization of $170.79 billion, a P/E ratio of 26.67, a PEG ratio of 2.12 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $10.36 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is 50.39%.

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.