Jacobi Capital Management LLC Grows Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Jacobi Capital Management LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLKGet Rating) by 12.9% in the 1st quarter, Holdings Channel.com reports. 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.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of BlackRock by 3.0% during the 4th quarter. State Street Corp now owns 6,539,029 shares of the asset manager’s stock valued at $5,986,873,000 after acquiring an additional 192,641 shares during the period. Capital International Investors grew its position in shares of BlackRock by 2.2% during the 4th quarter. Capital International Investors now owns 3,288,052 shares of the asset manager’s stock valued at $3,010,396,000 after acquiring an additional 71,631 shares during the period. Column Capital Advisors LLC boosted its holdings in BlackRock by 28,992.4% in the 4th quarter. Column Capital Advisors LLC now owns 2,847,273 shares of the asset manager’s stock worth $2,847,000 after buying an additional 2,837,486 shares during the period. Geode Capital Management LLC boosted its holdings in BlackRock by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 2,300,304 shares of the asset manager’s stock worth $2,099,650,000 after buying an additional 66,107 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in BlackRock by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,016,362 shares of the asset manager’s stock worth $1,846,102,000 after buying an additional 68,493 shares during the period. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of BLK opened at $695.93 on Friday. The business’s 50-day moving average is $633.39 and its 200-day moving average is $687.70. BlackRock, Inc. has a fifty-two week low of $575.60 and a fifty-two week high of $973.16. The company has a market capitalization of $105.43 billion, a price-to-earnings 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.

BlackRock (NYSE:BLKGet Rating) last announced its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share (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 company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period last year, the firm posted $10.03 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post 33.91 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of BlackRock in a research report on Wednesday, April 13th. They set a “buy” rating and a $873.00 target price on the stock. BMO Capital Markets reduced their price objective on shares of BlackRock from $755.00 to $734.00 and set a “market perform” rating on the stock in a research report on Thursday, April 14th. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 28th. Citigroup dropped their target price on shares of BlackRock from $1,035.00 to $900.00 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. Finally, Morgan Stanley decreased their price target on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $794.08.

Insider Activity

In related news, President Robert Kapito sold 37,588 shares of BlackRock 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 completion of the transaction, the president now directly owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Laurence Fink sold 44,500 shares of BlackRock 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 completion of the transaction, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the president now directly owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The disclosure for this sale can be found here. 1.06% of the stock is owned by corporate insiders.

About BlackRock

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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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