Country Club Trust Company n.a. Acquires Shares of 487 BlackRock, Inc. (NYSE:BLK)
Country Club Trust Company n.a. acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 487 shares of the asset manager’s stock, valued at approximately $206,000.
Other institutional investors have also recently made changes to their positions in the company. Peoples Financial Services CORP. bought a new position in shares of BlackRock during the first quarter valued at $115,000. Heritage Investors Management Corp increased its position in shares of BlackRock by 4.9% in the first quarter. Heritage Investors Management Corp now owns 27,100 shares of the asset manager’s stock valued at $10,393,000 after buying an additional 1,273 shares during the last quarter. Viking Fund Management LLC increased its position in shares of BlackRock by 61.9% in the first quarter. Viking Fund Management LLC now owns 6,800 shares of the asset manager’s stock valued at $2,608,000 after buying an additional 2,600 shares during the last quarter. Tompkins Financial Corp increased its position in shares of BlackRock by 103.4% in the first quarter. Tompkins Financial Corp now owns 1,485 shares of the asset manager’s stock valued at $506,000 after buying an additional 755 shares during the last quarter. Finally, Skylands Capital LLC increased its position in shares of BlackRock by 141.5% in the first quarter. Skylands Capital LLC now owns 12,075 shares of the asset manager’s stock valued at $4,631,000 after buying an additional 7,075 shares during the last quarter. 80.37% of the stock is owned by institutional investors and hedge funds.
BlackRock, Inc. (NYSE:BLK) traded up 0.6117% during midday trading on Friday, reaching $425.2754. The company had a trading volume of 305,236 shares. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84. The company has a market capitalization of $68.98 billion, a P/E ratio of 20.4126 and a beta of 1.71. The firm has a 50-day moving average of $428.00 and a 200 day moving average of $399.35.
BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $4.78 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post $21.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is 47.98%.
Several brokerages have recently weighed in on BLK. Morgan Stanley restated an “overweight” rating and set a $460.00 price target (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. Jefferies Group LLC restated a “hold” rating and set a $387.00 price target on shares of BlackRock in a report on Wednesday, May 17th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Deutsche Bank AG restated a “buy” rating and set a $441.00 price target (down from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $534.00 price target on shares of BlackRock in a report on Tuesday, July 18th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $434.93.
In other BlackRock news, insider Mark Mccombe sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 250 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,772 shares of company stock worth $1,567,516. 1.86% of the stock is 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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