First National Trust Co. decreased its stake in shares of BlackRock Inc. (NYSE:BLK) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,996 shares of the company’s stock after selling 175 shares during the period. First National Trust Co.’s holdings in BlackRock were worth $1,026,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Capital Fund Management S.A. raised its position in shares of BlackRock by 1,742.8% in the second quarter. Capital Fund Management S.A. now owns 31,327 shares of the company’s stock valued at $10,730,000 after buying an additional 29,627 shares in the last quarter. Windward Capital Management Co. CA raised its position in shares of BlackRock by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 44,866 shares of the company’s stock valued at $15,368,000 after buying an additional 363 shares in the last quarter. Legal & General Group Plc raised its position in shares of BlackRock by 1.7% in the first quarter. Legal & General Group Plc now owns 525,766 shares of the company’s stock valued at $179,060,000 after buying an additional 8,694 shares in the last quarter. Royal Bank of Canada raised its position in shares of BlackRock by 2.2% in the first quarter. Royal Bank of Canada now owns 436,900 shares of the company’s stock valued at $148,796,000 after buying an additional 9,486 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in shares of BlackRock by 0.4% in the second quarter. Cullen Frost Bankers Inc. now owns 57,047 shares of the company’s stock valued at $19,540,000 after buying an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
Shares of BlackRock Inc. (NYSE:BLK) traded down 0.66% during mid-day trading on Monday, hitting $360.07. 623,195 shares of the company’s stock traded hands. BlackRock Inc. has a 52 week low of $280.55 and a 52 week high of $376.65. The firm has a 50-day moving average of $368.01 and a 200 day moving average of $356.37. The company has a market cap of $59.22 billion, a PE ratio of 19.19 and a beta of 1.46.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by $0.04. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. BlackRock’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.96 EPS. Equities research analysts predict that BlackRock Inc. will post $19.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were issued a dividend of $2.29 per share. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.54%. BlackRock’s dividend payout ratio (DPR) is presently 48.83%.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price objective on the stock in a report on Monday, September 19th. Deutsche Bank AG lifted their price objective on BlackRock from $404.00 to $414.00 and gave the company a “buy” rating in a report on Friday, September 9th. Barclays PLC lifted their price objective on BlackRock from $364.00 to $375.00 and gave the company an “equal weight” rating in a report on Wednesday, August 24th. Vetr downgraded BlackRock from a “buy” rating to a “hold” rating and set a $382.97 price objective on the stock. in a report on Tuesday, August 16th. Finally, Goldman Sachs Group Inc. downgraded BlackRock from a “conviction-buy” rating to a “buy” rating and lifted their price objective for the company from $390.00 to $400.00 in a report on Monday, August 8th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $382.94.
In related news, Director James Grosfeld sold 25,379 shares of BlackRock stock in a transaction on Monday, August 29th. The shares were sold at an average price of $374.22, for a total transaction of $9,497,329.38. Following the completion of the transaction, the director now owns 514,402 shares of the company’s stock, valued at $192,499,516.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director J. Richard Kushel sold 8,000 shares of BlackRock stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total transaction of $2,852,400.00. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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