Longfellow Investment Management Co. LLC purchased a new position in shares of BlackRock (NYSE:BLK – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 931 shares of the asset manager’s stock, valued at approximately $881,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the last quarter. Capital World Investors grew its holdings in shares of BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock worth $4,200,450,000 after purchasing an additional 93,844 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of BlackRock by 18.6% during the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager’s stock worth $2,152,907,000 after purchasing an additional 329,244 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of BlackRock by 20.6% during the fourth quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager’s stock worth $1,631,684,000 after purchasing an additional 272,176 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director directly owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on BLK
BlackRock Price Performance
Shares of NYSE:BLK opened at $1,124.20 on Monday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,131.93. The stock’s 50 day moving average is $1,054.94 and its 200-day moving average is $985.12. The firm has a market capitalization of $174.17 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.26 and a beta of 1.42.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.36 EPS. Sell-side analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors 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 yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s dividend payout ratio is presently 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.
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