BlackRock $BLK Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC lifted its position in shares of BlackRock (NYSE:BLK) by 8.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 761 shares of the asset manager’s stock after buying an additional 60 shares during the quarter. Jacobi Capital Management LLC’s holdings in BlackRock were worth $720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Detalus Advisors LLC raised its stake in shares of BlackRock by 2.8% during the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager’s stock worth $387,000 after buying an additional 11 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of BlackRock by 20.4% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager’s stock worth $62,000 after buying an additional 11 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of BlackRock by 2.1% during the 1st quarter. Rothschild Investment LLC now owns 579 shares of the asset manager’s stock worth $548,000 after buying an additional 12 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of BlackRock by 3.0% during the 1st quarter. Financial Management Professionals Inc. now owns 451 shares of the asset manager’s stock worth $427,000 after buying an additional 13 shares during the last quarter. Finally, Crumly & Associates Inc. raised its stake in shares of BlackRock by 1.5% during the 1st quarter. Crumly & Associates Inc. now owns 864 shares of the asset manager’s stock worth $818,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.9%

NYSE BLK opened at $1,124.34 on Friday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,171.89. The company has a 50-day moving average of $1,115.88 and a 200-day moving average of $1,007.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market cap of $174.10 billion, a P/E ratio of 27.18, a P/E/G ratio of 2.17 and a beta of 1.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company posted $10.36 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock’s dividend payout ratio is currently 50.39%.

Insider Activity at BlackRock

In other news, Director Fabrizio Freda sold 4,434 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This represents a 55.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BLK. Jefferies Financial Group lifted their price target on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. Bank of America boosted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Wells Fargo & Company cut their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Finally, Barclays boosted their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.