Jacobi Capital Management LLC raised its stake in BlackRock, Inc. (NYSE:BLK – Get Rating) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 664 shares of the asset manager’s stock after acquiring an additional 76 shares during the period. Jacobi Capital Management LLC’s holdings in BlackRock were worth $507,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. CWM LLC bought a new position in BlackRock in the fourth quarter valued at about $1,492,000. Qube Research & Technologies Ltd boosted its holdings in BlackRock by 250.8% in the fourth quarter. Qube Research & Technologies Ltd now owns 46,652 shares of the asset manager’s stock valued at $42,713,000 after acquiring an additional 33,353 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in BlackRock in the fourth quarter valued at about $45,000. Mount Yale Investment Advisors LLC boosted its holdings in BlackRock by 6.1% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 313 shares of the asset manager’s stock valued at $287,000 after acquiring an additional 18 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in BlackRock by 2.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,527 shares of the asset manager’s stock valued at $12,385,000 after acquiring an additional 328 shares during the last quarter. Institutional investors own 93.81% of the company’s stock.
Insider Buying and Selling at BlackRock
In other BlackRock news, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $632.88, for a total value of $23,788,693.44. Following the sale, the president now owns 226,680 shares in the company, valued at approximately $143,461,238.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Laurence Fink sold 44,500 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Robert Kapito sold 37,588 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the transaction, the president now directly owns 226,680 shares in the company, valued at $143,461,238.40. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.
BlackRock Price Performance
BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a return on equity of 15.72% and a net margin of 30.12%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the firm posted $10.03 EPS. BlackRock’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 33.91 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be given a dividend of $4.88 per share. The ex-dividend date is Tuesday, September 6th. This represents a $19.52 dividend on an annualized basis and a yield of 2.80%. BlackRock’s dividend payout ratio is currently 51.46%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on BlackRock in a report on Wednesday, April 13th. They issued a “buy” rating and a $873.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their target price on BlackRock from $747.00 to $725.00 in a research note on Wednesday, July 13th. UBS Group cut their target price on BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. Morgan Stanley cut their target price on BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods cut their target price on BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $794.08.
BlackRock Company Profile
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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