Johnson Financial Group Inc. raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.3% during the first quarter, Holdings Channel reports. The institutional investor owned 10,945 shares of the asset manager’s stock after buying an additional 250 shares during the period. Johnson Financial Group Inc.’s holdings in BlackRock were worth $4,198,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. UBS Group AG boosted its stake in BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after buying an additional 486,502 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after buying an additional 250,431 shares during the period. Pioneer Investment Management Inc. boosted its position in shares of BlackRock by 22.7% in the first quarter. Pioneer Investment Management Inc. now owns 598,746 shares of the asset manager’s stock valued at $229,625,000 after buying an additional 110,634 shares during the period. Geode Capital Management LLC boosted its position in shares of BlackRock by 8.3% in the first quarter. Geode Capital Management LLC now owns 1,166,937 shares of the asset manager’s stock valued at $446,886,000 after buying an additional 89,696 shares during the period. Finally, Credit Agricole S A boosted its position in shares of BlackRock by 157.2% in the first quarter. Credit Agricole S A now owns 133,721 shares of the asset manager’s stock valued at $18,671,000 after buying an additional 81,734 shares during the period. 80.92% of the stock is owned by institutional investors.
BlackRock, Inc. (NYSE BLK) opened at 428.65 on Monday. The firm’s 50 day moving average price is $424.10 and its 200-day moving average price is $394.52. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83. The company has a market capitalization of $69.53 billion, a PE ratio of 20.57 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.78 earnings per share. Equities analysts forecast that BlackRock, Inc. will post $21.90 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.33%. BlackRock’s payout ratio is 47.98%.
Several brokerages recently commented on BLK. Morgan Stanley reaffirmed an “overweight” rating and issued a $460.00 target price (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $387.00 target price on shares of BlackRock in a research report on Wednesday, May 17th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $441.00 target price (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $534.00 target price on shares of BlackRock in a research report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $434.93.
In other news, insider Jeff A. Smith sold 522 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction 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 owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,522 shares of company stock valued at $1,458,798. Corporate 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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