Fic Capital Inc. Sells 375 Shares of BlackRock, Inc. (NYSE:BLK)
Fic Capital Inc. decreased its position in BlackRock, Inc. (NYSE:BLK) by 20.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,480 shares of the asset manager’s stock after selling 375 shares during the period. Fic Capital Inc.’s holdings in BlackRock were worth $568,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kings Point Capital Management boosted its position in BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in BlackRock during the first quarter worth approximately $108,000. Peoples Financial Services CORP. purchased a new position in BlackRock during the first quarter worth approximately $115,000. Twin Tree Management LP boosted its position in BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock worth $132,000 after buying an additional 1,443 shares during the last quarter. Finally, Adirondack Trust Co. boosted its position in BlackRock by 7.1% in the first quarter. Adirondack Trust Co. now owns 450 shares of the asset manager’s stock worth $172,000 after buying an additional 30 shares during the last quarter. 80.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (BLK) opened at 428.32 on Tuesday. The firm has a market capitalization of $69.48 billion, a PE ratio of 20.56 and a beta of 1.71. The firm’s 50 day moving average is $424.93 and its 200-day moving average is $395.22. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.78 EPS. On average, equities research analysts predict that BlackRock, Inc. will post $21.90 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.33%. BlackRock’s payout ratio is 47.98%.
A number of research firms have recently commented on BLK. Morgan Stanley reissued an “overweight” rating and set a $460.00 target price (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $387.00 target price on shares of BlackRock in a research 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 target price (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Finally, Credit Suisse Group reissued an “outperform” rating and set 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 assigned a strong buy rating to the stock. BlackRock presently has an average rating of “Buy” and a consensus price target of $434.93.
In related news, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total value of $220,033.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,522 shares of company stock worth $1,458,798. 1.86% of the stock is currently owned by corporate insiders.
BlackRock Company Profile
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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