BlackRock, Inc. (NYSE:BLK) Stake Increased by First Financial Bank Trust Division
First Financial Bank Trust Division increased its position in BlackRock, Inc. (NYSE:BLK) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,531 shares of the asset manager’s stock after buying an additional 374 shares during the period. BlackRock accounts for 1.3% of First Financial Bank Trust Division’s investment portfolio, making the stock its 21st largest position. First Financial Bank Trust Division’s holdings in BlackRock were worth $7,406,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 last quarter. BlackRock Inc. boosted its stake in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after buying an additional 6,314,004 shares during the last quarter. State Street Corp boosted its stake in shares of BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after buying an additional 112,993 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of BlackRock by 4.1% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock valued at $782,896,000 after buying an additional 80,433 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of 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 during the last quarter. Institutional investors own 80.37% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) traded up 0.35% during midday trading on Friday, reaching $424.16. 807,059 shares of the company traded hands. The stock’s 50-day moving average is $428.03 and its 200-day moving average is $399.68. The stock has a market capitalization of $68.80 billion, a P/E 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.
BlackRock (NYSE:BLK) last announced its quarterly 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. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the business earned $4.78 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be given a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
Several analysts have commented on the stock. Bank of America Corporation restated a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Morgan Stanley restated an “overweight” rating and set a $476.00 price objective (up from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective for the company in a research note on Tuesday, June 20th. Deutsche Bank AG lifted their price objective on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $387.00 price objective on shares of BlackRock in a research note on Wednesday, May 17th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and an average target price of $434.93.
In other news, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares in the company, valued at $200,685,963.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were 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 3,772 shares of company stock valued at $1,567,516. Company insiders own 1.86% of the company’s stock.
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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