Capital City Trust Co. FL raised its position in BlackRock, Inc. (NYSE:BLK) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,038 shares of the asset manager’s stock after buying an additional 212 shares during the period. BlackRock accounts for approximately 1.5% of Capital City Trust Co. FL’s holdings, making the stock its 13th largest position. Capital City Trust Co. FL’s holdings in BlackRock were worth $3,817,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Proficio Capital Partners LLC raised its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares in the last quarter. Kings Point Capital Management raised its stake in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of BlackRock during the first quarter worth $108,000. Financial Architects Inc raised its stake in shares of BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after buying an additional 2 shares during the period. Finally, Twin Tree Management LP raised its stake in shares of BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock worth $132,000 after buying an additional 1,443 shares during the period. 80.33% of the stock is owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE BLK) opened at 416.55 on Monday. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83. The stock has a market capitalization of $67.57 billion, a P/E ratio of 19.99 and a beta of 1.71. The stock has a 50 day moving average price of $428.07 and a 200-day moving average price of $401.25.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.78 earnings per share. Analysts anticipate that BlackRock, Inc. will post $21.85 earnings per share for the current 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 paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s payout ratio is currently 47.98%.
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A number of brokerages have weighed in on BLK. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $440.00 target price on shares of BlackRock in a research report on Friday. Morgan Stanley reaffirmed an “overweight” rating and set a $476.00 target price (up from $460.00) on shares of BlackRock in a research report on Tuesday, July 18th. Deutsche Bank AG lifted their target price on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Finally, Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research report on Tuesday, June 20th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $443.00.
In other BlackRock news, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,772 shares of company stock worth $1,567,516. Insiders own 1.86% of the company’s stock.
About BlackRock
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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