BlackRock, Inc. (NYSE:BLK) Shares Acquired by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 96.6% during the second quarter, Holdings Channel.com reports. The fund owned 7,300 shares of the asset manager’s stock after acquiring an additional 3,587 shares during the period. Amica Mutual Insurance Co.’s holdings in BlackRock were worth $5,747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Redmont Wealth Advisors LLC acquired a new position in BlackRock in the 1st quarter valued at about $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $28,000. Northwest Financial Advisors purchased a new stake in BlackRock in the 4th quarter worth approximately $32,000. Finally, Knuff & Co LLC raised its holdings in BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,670,194.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,670,194.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,042 shares of company stock valued at $68,587,117. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.0 %

BlackRock stock traded up $0.30 during trading on Monday, reaching $883.14. 413,845 shares of the company’s stock were exchanged, compared to its average volume of 594,524. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $889.00. The firm has a market cap of $131.23 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.92 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company’s 50-day moving average is $828.48 and its two-hundred day moving average is $805.37.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.28 earnings per share. On average, analysts predict that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.31%. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. TD Cowen lowered their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Morgan Stanley dropped their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Citigroup boosted their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. UBS Group cut their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $874.07.

About BlackRock

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.