First Financial Bank Trust Division grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 16,722 shares of the asset manager’s stock after acquiring an additional 240 shares during the quarter. BlackRock makes up approximately 1.2% of First Financial Bank Trust Division’s portfolio, making the stock its 27th biggest holding. First Financial Bank Trust Division’s holdings in BlackRock were worth $7,847,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of BlackRock in the fourth quarter valued at $1,092,934,000. Northern Trust Corp raised its stake in shares of BlackRock by 0.7% in the first quarter. Northern Trust Corp now owns 1,677,656 shares of the asset manager’s stock valued at $716,980,000 after acquiring an additional 11,082 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of BlackRock by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after acquiring an additional 60,941 shares in the last quarter. Pennsylvania Trust Co raised its stake in BlackRock by 5,049.8% in the first quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock valued at $44,805,000 after buying an additional 1,063,080 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in BlackRock by 11.4% in the first quarter. Neuberger Berman Group LLC now owns 665,134 shares of the asset manager’s stock valued at $284,258,000 after buying an additional 68,129 shares in the last quarter. Institutional investors own 81.31% of the company’s stock.
A number of analysts have weighed in on BLK shares. Wells Fargo & Co restated a “buy” rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. cut their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup raised their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Finally, Barclays cut Barrick Gold from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $15.00 to $18.00 in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $499.03.
In other BlackRock news, insider Jeff A. Smith sold 75 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $479.40, for a total transaction of $35,955.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Laurence Fink sold 31,250 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total value of $15,055,937.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,475 shares of company stock worth $15,163,636. Corporate insiders own 1.42% of the company’s stock.
Shares of BLK stock traded up $3.91 during mid-day trading on Tuesday, hitting $477.46. 449,206 shares of the stock were exchanged, compared to its average volume of 561,982. The firm’s fifty day moving average price is $462.18. The company has a market capitalization of $74.15 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.71 and a beta of 1.52. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $513.00. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.11). The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $6.66 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 27.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s payout ratio is 49.02%.
BlackRock Company Profile
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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