Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,253 shares of the asset manager’s stock, valued at approximately $2,231,000.
A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC raised its stake in BlackRock by 2,475.4% during the 1st quarter. SG Americas Securities LLC now owns 13,611 shares of the asset manager’s stock worth $5,817,000 after buying an additional 14,184 shares during the period. Naples Global Advisors LLC raised its stake in shares of BlackRock by 2.0% in the 1st quarter. Naples Global Advisors LLC now owns 6,195 shares of the asset manager’s stock valued at $2,648,000 after purchasing an additional 121 shares during the period. Choate Investment Advisors raised its stake in shares of BlackRock by 18.2% in the 1st quarter. Choate Investment Advisors now owns 1,052 shares of the asset manager’s stock valued at $450,000 after purchasing an additional 162 shares during the period. Hartford Investment Management Co. raised its stake in shares of BlackRock by 2.5% in the 1st quarter. Hartford Investment Management Co. now owns 15,711 shares of the asset manager’s stock valued at $6,714,000 after purchasing an additional 387 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of BlackRock by 4.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 12,531 shares of the asset manager’s stock valued at $5,355,000 after purchasing an additional 485 shares during the period. 80.49% of the stock is currently owned by institutional investors and hedge funds.
In other BlackRock news, COO Robert L. Goldstein sold 5,133 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $443.00, for a total transaction of $2,273,919.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,658 shares of company stock valued at $18,864,994. 1.42% of the stock is owned by company insiders.
Several analysts have issued reports on the company. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Wells Fargo & Co raised their price objective on BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a report on Wednesday, April 17th. Morgan Stanley raised their price objective on BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Citigroup raised their price objective on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Bank of America restated a “buy” rating and issued a $498.00 price objective (up previously from $490.00) on shares of BlackRock in a report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and an average target price of $509.38.
Shares of NYSE:BLK traded up $1.87 during trading on Friday, reaching $435.76. 272,077 shares of the stock were exchanged, compared to its average volume of 506,545. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $557.00. The stock has a market cap of $67.51 billion, a PE ratio of 16.18, a P/E/G ratio of 1.59 and a beta of 1.44. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the previous year, the business earned $6.48 earnings per share. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post 27.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.03%. BlackRock’s payout ratio is 49.02%.
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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