Ingalls & Snyder LLC Increases Position in BlackRock, Inc. (BLK)
Ingalls & Snyder LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 94.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,970 shares of the asset manager’s stock after buying an additional 958 shares during the period. Ingalls & Snyder LLC’s holdings in BlackRock were worth $756,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of BLK. Bessemer Group Inc. boosted its position in shares of BlackRock by 1,618.3% in the fourth quarter. Bessemer Group Inc. now owns 8,901 shares of the asset manager’s stock valued at $3,387,000 after buying an additional 8,383 shares in the last quarter. National Planning Corp boosted its position in shares of BlackRock by 55.2% in the fourth quarter. National Planning Corp now owns 1,023 shares of the asset manager’s stock valued at $380,000 after buying an additional 364 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $881,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of BlackRock by 212.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 3,047 shares of the asset manager’s stock valued at $1,160,000 after buying an additional 2,072 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of BlackRock by 36.8% in the fourth quarter. Comerica Bank now owns 45,947 shares of the asset manager’s stock valued at $17,430,000 after buying an additional 12,370 shares in the last quarter. 81.91% of the stock is owned by institutional investors.
Shares of BlackRock, Inc. (BLK) opened at 420.51 on Friday. The stock has a 50 day moving average of $399.61 and a 200-day moving average of $387.27. The company has a market capitalization of $68.49 billion, a price-to-earnings ratio of 20.66 and a beta of 1.67. BlackRock, Inc. has a one year low of $317.60 and a one year high of $423.47.
BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, April 19th. The asset manager reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.31. BlackRock had a net margin of 29.74% and a return on equity of 11.62%. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the firm posted $4.25 earnings per share. BlackRock’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post $21.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, June 5th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, June 1st. BlackRock’s dividend payout ratio (DPR) is presently 49.14%.
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A number of equities analysts have commented on the stock. J P Morgan Chase & Co reissued a “buy” rating on shares of BlackRock in a research note on Wednesday, March 8th. Morgan Stanley reissued a “buy” rating on shares of BlackRock in a research note on Saturday, March 18th. Deutsche Bank AG boosted their price target on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $387.00 price target on shares of BlackRock in a research note on Wednesday, May 17th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $410.70.
In related news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Wagner sold 2,500 shares of the firm’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 completion of the transaction, the director now directly owns 484,386 shares of the company’s stock, valued at $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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