Tompkins Financial Corp trimmed its holdings in BlackRock, Inc. (NYSE:BLK – Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,117 shares of the asset manager’s stock after selling 213 shares during the quarter. Tompkins Financial Corp’s holdings in BlackRock were worth $6,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in BLK. Norges Bank purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $1,037,009,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of BlackRock by 104,159.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager’s stock valued at $494,269,000 after purchasing an additional 696,830 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BlackRock by 14.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,335,602 shares of the asset manager’s stock valued at $2,363,708,000 after buying an additional 430,524 shares during the last quarter. Renaissance Technologies LLC purchased a new position in BlackRock in the 1st quarter worth about $187,527,000. Finally, First Trust Advisors LP raised its position in BlackRock by 277.9% in the 1st quarter. First Trust Advisors LP now owns 317,614 shares of the asset manager’s stock worth $242,711,000 after buying an additional 233,568 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their target price on BlackRock from $741.00 to $781.00 in a research report on Monday, July 10th. StockNews.com started coverage on shares of BlackRock in a research report on Thursday, August 17th. They issued a “hold” rating for the company. JPMorgan Chase & Co. dropped their target price on BlackRock from $780.00 to $770.00 and set an “overweight” rating on the stock in a research report on Monday, July 3rd. Citigroup raised their target price on BlackRock from $750.00 to $815.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Finally, Bank of America decreased their price target on shares of BlackRock from $928.00 to $921.00 in a research report on Sunday, July 16th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $767.69.
BlackRock Price Performance
Shares of BlackRock stock traded down $5.93 on Tuesday, hitting $688.96. 63,712 shares of the company traded hands, compared to its average volume of 637,306. The stock has a market capitalization of $102.86 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.21 and a current ratio of 4.21. BlackRock, Inc. has a 52 week low of $503.12 and a 52 week high of $785.65. The business has a 50-day simple moving average of $706.56 and a 200 day simple moving average of $681.26.
BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings data on Friday, July 14th. The asset manager reported $9.28 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.76. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.47 billion. BlackRock had a return on equity of 14.29% and a net margin of 29.90%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.36 earnings per share. Research analysts expect that BlackRock, Inc. will post 35.48 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $5.00 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.90%. BlackRock’s dividend payout ratio is currently 58.41%.
In other news, CEO Laurence Fink sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $742.04, for a total transaction of $14,989,208.00. Following the completion of the transaction, the chief executive officer now directly owns 464,125 shares in the company, valued at approximately $344,399,315. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Laurence Fink sold 20,200 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total transaction of $14,989,208.00. Following the sale, the chief executive officer now directly owns 464,125 shares in the company, valued at approximately $344,399,315. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 2,079 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $733.82, for a total transaction of $1,525,611.78. Following the sale, the director now owns 6,160 shares in the company, valued at $4,520,331.20. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.
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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