Cookson Peirce & Co. Inc. bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 790 shares of the asset manager’s stock, valued at approximately $430,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of BlackRock by 228.6% in the 2nd quarter. Larson Financial Group LLC now owns 46 shares of the asset manager’s stock worth $25,000 after purchasing an additional 32 shares during the period. Watson Rebecca bought a new position in shares of BlackRock in the second quarter worth approximately $30,000. Smith Asset Management Group LP raised its stake in BlackRock by 360.0% in the first quarter. Smith Asset Management Group LP now owns 69 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 54 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new stake in BlackRock during the second quarter valued at approximately $44,000. Finally, Key Financial Inc purchased a new stake in shares of BlackRock during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.
A number of research analysts recently commented on BLK shares. Citigroup increased their target price on BlackRock from $630.00 to $685.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Bank of America raised their price target on shares of BlackRock from $633.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Morgan Stanley upped their price objective on shares of BlackRock from $630.00 to $652.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. BMO Capital Markets raised their target price on BlackRock from $560.00 to $620.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Finally, Argus upped their price target on BlackRock from $530.00 to $640.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $600.17.
BlackRock stock traded down $7.47 on Thursday, hitting $582.28. 15,706 shares of the stock traded hands, compared to its average volume of 474,197. BlackRock, Inc. has a 1 year low of $323.98 and a 1 year high of $605.72. The firm has a market cap of $89.84 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $571.98 and its 200 day simple moving average is $514.39.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, July 17th. The asset manager reported $7.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.90 by $0.95. BlackRock had a net margin of 29.55% and a return on equity of 14.17%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the business earned $6.41 EPS. BlackRock’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 29.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be paid a dividend of $3.63 per share. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, September 3rd. BlackRock’s dividend payout ratio is 50.98%.
In other news, Director Mark Wiedman sold 360 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $583.20, for a total value of $209,952.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Christopher J. Meade sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $526.04, for a total value of $1,052,080.00. The disclosure for this sale can be found here. Insiders have sold 50,748 shares of company stock valued at $29,248,701 over the last quarter. Company insiders own 1.42% 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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