First Midwest Bank Trust Division Has $1.16 Million Stake in BlackRock, Inc. (BLK)
First Midwest Bank Trust Division boosted its stake in BlackRock, Inc. (NYSE:BLK) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,735 shares of the asset manager’s stock after buying an additional 50 shares during the period. First Midwest Bank Trust Division’s holdings in BlackRock were worth $1,156,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its position in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares during the period. 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 valued at $105,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue purchased a new position in BlackRock during the first quarter valued at $108,000. Financial Architects Inc boosted its position in BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after buying an additional 2 shares during the period. Finally, Peoples Financial Services CORP. purchased a new position in BlackRock during the first quarter valued at $115,000. Institutional investors and hedge funds own 80.37% of the company’s stock.
BlackRock, Inc. (BLK) traded up 0.35% during mid-day trading on Friday, hitting $424.16. 807,059 shares of the stock traded hands. The stock has a market cap of $68.80 billion, a price-to-earnings ratio of 20.36 and a beta of 1.71. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84. The company’s 50 day moving average price is $428.03 and its 200-day moving average price is $399.68.
BlackRock (NYSE:BLK) last released 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 for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.24% and a return on equity of 11.71%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.78 EPS. Analysts predict that BlackRock, Inc. will post $21.85 earnings per share for the current 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 given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is currently 47.98%.
Several research firms recently weighed in on BLK. BidaskClub cut shares of BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG restated a “buy” rating and set a $455.00 price target (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. 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. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $534.00 price objective on shares of BlackRock in a research report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $434.93.
In other news, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the sale, the director now owns 484,386 shares in the company, valued at $200,685,963.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeff A. Smith sold 522 shares of BlackRock stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total transaction of $220,033.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,772 shares of company stock worth $1,567,516. Company 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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