Suntrust Banks Inc. Increases Position in BlackRock, Inc. (BLK)
Suntrust Banks Inc. increased its position in BlackRock, Inc. (NYSE:BLK) by 3.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 44,418 shares of the asset manager’s stock after buying an additional 1,380 shares during the period. Suntrust Banks Inc.’s holdings in BlackRock were worth $17,034,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of BlackRock during the first quarter worth approximately $108,000. Peoples Financial Services CORP. bought a new position in shares of BlackRock during the first quarter worth approximately $115,000. Massey Quick & Co. LLC bought a new position in shares of BlackRock during the fourth quarter worth approximately $137,000. SRB Corp boosted its position in shares of BlackRock by 6.3% in the third quarter. SRB Corp now owns 423 shares of the asset manager’s stock worth $153,000 after buying an additional 25 shares in the last quarter. Finally, Israel Discount Bank of New York GFN bought a new position in shares of BlackRock during the fourth quarter worth approximately $162,000. 80.82% of the stock is currently owned by institutional investors.
Shares of BlackRock, Inc. (NYSE BLK) traded up 0.79% during mid-day trading on Friday, reaching $418.50. 679,228 shares of the company’s stock traded hands. The stock has a market capitalization of $68.16 billion, a PE ratio of 20.56 and a beta of 1.72. BlackRock, Inc. has a 12-month low of $317.60 and a 12-month high of $419.04. The company’s 50-day moving average price is $394.77 and its 200-day moving average price is $385.61.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, April 19th. The asset manager reported $5.25 EPS for the quarter, topping the consensus estimate of $4.94 by $0.31. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.86 billion. BlackRock had a return on equity of 11.20% and a net margin of 28.44%. BlackRock’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $4.25 earnings per share. Analysts anticipate that BlackRock, Inc. will post $21.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Monday, June 5th will be issued a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.39%. BlackRock’s payout ratio is presently 48.11%.
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A number of brokerages have issued reports on BLK. Morgan Stanley reiterated a “buy” rating on shares of BlackRock in a research note on Saturday, March 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $387.00 price target on shares of BlackRock in a research note on Wednesday, May 17th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of BlackRock in a research note on Wednesday, March 8th. Finally, Deutsche Bank AG increased their price target on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $410.70.
In other news, insider Mark Mccombe sold 500 shares of BlackRock stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the transaction, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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