Capital City Trust Co. FL lifted its holdings in BlackRock, Inc. (NYSE:BLK – Get Rating) by 1.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,227 shares of the asset manager’s stock after acquiring an additional 97 shares during the period. BlackRock makes up approximately 2.0% of Capital City Trust Co. FL’s investment portfolio, making the stock its 10th largest position. Capital City Trust Co. FL’s holdings in BlackRock were worth $6,227,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in BlackRock in the 4th quarter valued at approximately $1,230,851,000. Aaron Wealth Advisors LLC lifted its stake in shares of BlackRock by 79,395.4% in the first quarter. Aaron Wealth Advisors LLC now owns 670,941 shares of the asset manager’s stock worth $878,000 after buying an additional 670,097 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in BlackRock by 15.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock worth $1,777,933,000 after buying an additional 310,256 shares in the last quarter. Capital International Investors boosted its stake in shares of BlackRock by 9.0% in the first quarter. Capital International Investors now owns 3,582,460 shares of the asset manager’s stock worth $2,737,701,000 after acquiring an additional 294,408 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of BlackRock by 2.2% in the first quarter. Vanguard Group Inc. now owns 12,511,310 shares of the asset manager’s stock valued at $9,560,768,000 after purchasing an additional 275,176 shares in the last quarter. Institutional investors own 76.88% of the company’s stock.
BlackRock Price Performance
Shares of BlackRock stock opened at $588.81 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.64 and a quick ratio of 3.64. The stock has a market capitalization of $88.77 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 3.19 and a beta of 1.23. The business’s 50 day simple moving average is $672.16 and its two-hundred day simple moving average is $665.81. BlackRock, Inc. has a one year low of $575.60 and a one year high of $973.16.
BlackRock Increases Dividend
The business also recently disclosed a dividend, which was paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th were given a $4.88 dividend. This is a boost from BlackRock’s previous dividend of $2.29. The ex-dividend date was Tuesday, September 6th. BlackRock’s payout ratio is 51.46%.
Insider Activity at BlackRock
In other news, CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the sale, the chief executive officer now directly owns 563,771 shares in the company, valued at $385,963,264.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other BlackRock news, Director Mark Mccombe sold 1,360 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the transaction, the director now directly owns 21,106 shares in the company, valued at $15,614,007.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 44,500 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the sale, the chief executive officer now owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The disclosure for this sale can be found here. Insiders sold 83,448 shares of company stock worth $55,259,953 over the last three months. 1.06% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on BLK shares. UBS Group dropped their target price on BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. The Goldman Sachs Group lowered their price target on BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $720.00 to $860.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a report on Tuesday, June 28th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $804.46.
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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