B & T Capital Management DBA Alpha Capital Management Acquires Shares of 5,560 BlackRock, Inc. (BLK)
B & T Capital Management DBA Alpha Capital Management acquired a new position in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,560 shares of the asset manager’s stock, valued at approximately $2,348,000. BlackRock accounts for approximately 1.2% of B & T Capital Management DBA Alpha Capital Management’s portfolio, making the stock its 27th largest position.
Several other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its position in 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 during the last quarter. Kings Point Capital Management increased its position 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 valued at $105,000 after buying an additional 70 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of BlackRock during the first quarter valued at about $108,000. Peoples Financial Services CORP. purchased a new position in shares of BlackRock during the first quarter valued at about $115,000. Finally, Twin Tree Management LP increased its position 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 valued at $132,000 after buying an additional 1,443 shares in the last quarter. 80.85% of the stock is owned by institutional investors.
BlackRock, Inc. (NYSE BLK) opened at 425.58 on Monday. The firm has a market cap of $69.31 billion, a PE ratio of 20.91 and a beta of 1.71. The company’s 50-day moving average is $410.09 and its 200-day moving average is $390.31. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by $0.12. BlackRock had a net margin of 29.74% and a return on equity of 11.62%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the business posted $4.78 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts forecast that BlackRock, Inc. will post $22.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Monday, June 5th were given a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, June 1st. BlackRock’s payout ratio is currently 49.14%.
BLK has been the subject of several analyst reports. Deutsche Bank AG reissued a “buy” rating and set a $441.00 price target (down from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Bank of America Corporation reissued a “buy” rating and set a $450.00 price target on shares of BlackRock in a report on Monday, June 19th. Jefferies Group LLC reissued a “hold” rating and set a $387.00 price target on shares of BlackRock in a report on Wednesday, May 17th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a report on Tuesday, June 20th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research report on Friday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $428.36.
In related news, insider Mark Mccombe sold 500 shares of BlackRock 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Wagner sold 2,500 shares of BlackRock 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 completion of the sale, the director now directly owns 484,386 shares of the company’s stock, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. Company 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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