Colony Group LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) during the first quarter, according to its most recent disclosure with the SEC. The fund bought 615 shares of the asset manager’s stock, valued at approximately $236,000.
Other large investors also recently bought and sold shares of the company. HighPoint Advisor Group LLC acquired a new stake in shares of BlackRock during the fourth quarter worth about $291,000. First Financial Bank N.A. Trust Division boosted its position in shares of BlackRock by 1.6% in the first quarter. First Financial Bank N.A. Trust Division now owns 17,157 shares of the asset manager’s stock worth $6,580,000 after buying an additional 271 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of BlackRock by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 113,736 shares of the asset manager’s stock worth $43,619,000 after buying an additional 2,805 shares during the period. Trust Co boosted its position in shares of BlackRock by 7.8% in the fourth quarter. Trust Co now owns 4,237 shares of the asset manager’s stock worth $1,613,000 after buying an additional 307 shares during the period. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of BlackRock during the first quarter worth about $279,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.
Shares of BlackRock, Inc. (BLK) traded down 0.81% during trading on Friday, reaching $416.55. 1,015,041 shares of the company’s stock were exchanged. The company has a 50 day moving average of $428.07 and a 200 day moving average of $401.25. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84. The stock has a market cap of $67.57 billion, a P/E ratio of 19.99 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. BlackRock’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $4.78 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post $21.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is 47.98%.
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Several brokerages have commented on BLK. Morgan Stanley restated an “overweight” rating and issued a $460.00 price objective (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. Jefferies Group LLC restated a “hold” rating and issued a $387.00 price objective on shares of BlackRock in a report on Wednesday, May 17th. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG reissued a “buy” rating and set a $441.00 price objective (down previously from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $534.00 target price on shares of BlackRock in a research note on Tuesday, July 18th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $443.00.
In other news, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the sale, the director now directly owns 484,386 shares of the company’s stock, valued at approximately $200,685,963.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Mccombe sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The disclosure for this sale can be found here. Insiders sold a total of 3,772 shares of company stock worth $1,567,516 over the last three months. Insiders own 1.86% of the company’s stock.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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