CENTRAL TRUST Co Buys 230 Shares of BlackRock, Inc. (BLK)
CENTRAL TRUST Co increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,787 shares of the asset manager’s stock after buying an additional 230 shares during the period. CENTRAL TRUST Co’s holdings in BlackRock were worth $2,866,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after buying an additional 250,431 shares during the period. BlackRock Inc. raised its stake in BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares during the period. State Street Corp raised its stake in BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock worth $2,088,501,000 after buying an additional 112,993 shares during the period. Wells Fargo & Company MN raised its stake in BlackRock by 4.1% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock worth $782,896,000 after buying an additional 80,433 shares during the period. Finally, UBS Group AG raised its stake in BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after buying an additional 486,502 shares during the period. 80.33% of the stock is owned by institutional investors.
Shares of BlackRock, Inc. (BLK) traded down 0.81% on Friday, hitting $416.55. The stock had a trading volume of 1,015,041 shares. The company has a market cap of $67.57 billion, a P/E ratio of 19.99 and a beta of 1.71. The company has a 50-day moving average of $428.07 and a 200-day moving average of $401.25. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. BlackRock’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $4.78 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
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A number of research analysts have commented on BLK shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $455.00 price target (down previously from $465.00) on shares of BlackRock in a research report on Tuesday, July 18th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a research report on Tuesday, June 20th. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 price target on shares of BlackRock in a research report on Monday, June 19th. BidaskClub lowered BlackRock from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 price target on shares of BlackRock in a research report on Wednesday, May 17th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $443.00.
In other news, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the sale, the director now directly owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock worth $1,567,516 over the last three months. Corporate insiders own 1.86% of the company’s stock.
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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