Jacobi Capital Management LLC Buys 76 Shares of BlackRock, Inc. (NYSE:BLK)

Jacobi Capital Management LLC raised its stake in BlackRock, Inc. (NYSE:BLKGet Rating) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 664 shares of the asset manager’s stock after acquiring an additional 76 shares during the period. Jacobi Capital Management LLC’s holdings in BlackRock were worth $507,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. CWM LLC bought a new position in BlackRock in the fourth quarter valued at about $1,492,000. Qube Research & Technologies Ltd boosted its holdings in BlackRock by 250.8% in the fourth quarter. Qube Research & Technologies Ltd now owns 46,652 shares of the asset manager’s stock valued at $42,713,000 after acquiring an additional 33,353 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in BlackRock in the fourth quarter valued at about $45,000. Mount Yale Investment Advisors LLC boosted its holdings in BlackRock by 6.1% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 313 shares of the asset manager’s stock valued at $287,000 after acquiring an additional 18 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in BlackRock by 2.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,527 shares of the asset manager’s stock valued at $12,385,000 after acquiring an additional 328 shares during the last quarter. Institutional investors own 93.81% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $632.88, for a total value of $23,788,693.44. Following the sale, the president now owns 226,680 shares in the company, valued at approximately $143,461,238.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Laurence Fink sold 44,500 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Robert Kapito sold 37,588 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the transaction, the president now directly owns 226,680 shares in the company, valued at $143,461,238.40. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $695.93 on Friday. The stock has a market capitalization of $105.43 billion, a PE ratio of 18.35, a P/E/G ratio of 3.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.33 and a quick ratio of 4.33. The business has a fifty day moving average price of $633.39 and a two-hundred day moving average price of $687.70. BlackRock, Inc. has a fifty-two week low of $575.60 and a fifty-two week high of $973.16.

BlackRock (NYSE:BLKGet Rating) last posted its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a return on equity of 15.72% and a net margin of 30.12%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the firm posted $10.03 EPS. BlackRock’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 33.91 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be given a dividend of $4.88 per share. The ex-dividend date is Tuesday, September 6th. This represents a $19.52 dividend on an annualized basis and a yield of 2.80%. BlackRock’s dividend payout ratio is currently 51.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on BlackRock in a report on Wednesday, April 13th. They issued a “buy” rating and a $873.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their target price on BlackRock from $747.00 to $725.00 in a research note on Wednesday, July 13th. UBS Group cut their target price on BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. Morgan Stanley cut their target price on BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods cut their target price on BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $794.08.

BlackRock Company Profile

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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Jacobi Capital Management LLC Buys 76 Shares of BlackRock, Inc. (NYSE:BLK)

Jacobi Capital Management LLC raised its stake in BlackRock, Inc. (NYSE:BLKGet Rating) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 664 shares of the asset manager’s stock after acquiring an additional 76 shares during the period. Jacobi Capital Management LLC’s holdings in BlackRock were worth $507,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BLK. State Street Corp grew its holdings in shares of BlackRock by 3.0% during the fourth quarter. State Street Corp now owns 6,539,029 shares of the asset manager’s stock worth $5,986,873,000 after purchasing an additional 192,641 shares during the last quarter. Capital International Investors grew its holdings in shares of BlackRock by 2.2% during the fourth quarter. Capital International Investors now owns 3,288,052 shares of the asset manager’s stock worth $3,010,396,000 after purchasing an additional 71,631 shares during the last quarter. Column Capital Advisors LLC grew its holdings in shares of BlackRock by 28,992.4% during the fourth quarter. Column Capital Advisors LLC now owns 2,847,273 shares of the asset manager’s stock worth $2,847,000 after purchasing an additional 2,837,486 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of BlackRock by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 2,300,304 shares of the asset manager’s stock worth $2,099,650,000 after purchasing an additional 66,107 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of BlackRock by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,016,362 shares of the asset manager’s stock worth $1,846,102,000 after purchasing an additional 68,493 shares during the last quarter. 93.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BlackRock news, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $632.88, for a total value of $23,788,693.44. Following the sale, the president now owns 226,680 shares in the company, valued at approximately $143,461,238.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, President Robert Kapito sold 37,588 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares of the company’s stock, valued at approximately $143,461,238.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 44,500 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total value of $30,465,145.00. Following the completion of the transaction, the chief executive officer now directly owns 563,771 shares in the company, valued at $385,963,264.31. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup decreased their price target on BlackRock from $1,035.00 to $900.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. BMO Capital Markets decreased their price target on BlackRock from $755.00 to $734.00 and set a “market perform” rating on the stock in a report on Thursday, April 14th. The Goldman Sachs Group decreased their price target on BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Keefe, Bruyette & Woods cut their target price on BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 28th. Finally, Jefferies Financial Group started coverage on BlackRock in a research note on Wednesday, April 13th. They issued a “buy” rating and a $873.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $794.08.

BlackRock Stock Performance

NYSE:BLK opened at $695.93 on Friday. The stock has a market cap of $105.43 billion, a P/E ratio of 18.35, a PEG ratio of 3.65 and a beta of 1.25. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $633.39 and a 200 day simple moving average of $687.70. BlackRock, Inc. has a 1-year low of $575.60 and a 1-year high of $973.16.

BlackRock (NYSE:BLKGet Rating) last posted its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a return on equity of 15.72% and a net margin of 30.12%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the firm posted $10.03 EPS. BlackRock’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts anticipate that BlackRock, Inc. will post 33.91 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be given a dividend of $4.88 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $19.52 dividend on an annualized basis and a yield of 2.80%. BlackRock’s dividend payout ratio is currently 51.46%.

About BlackRock

(Get Rating)

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.

Recommended Stories

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.