Toronto Dominion Bank raised its position in shares of BlackRock (NYSE:BLK) by 37.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 70,046 shares of the asset manager’s stock after purchasing an additional 19,044 shares during the quarter. Toronto Dominion Bank’s holdings in BlackRock were worth $37,935,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Bamco Inc. NY acquired a new stake in BlackRock during the 1st quarter valued at approximately $106,000. Princeton Capital Management LLC acquired a new stake in BlackRock during the 1st quarter valued at approximately $115,000. Bray Capital Advisors acquired a new stake in BlackRock during the 1st quarter valued at approximately $128,000. O Shaughnessy Asset Management LLC acquired a new stake in BlackRock during the 1st quarter valued at approximately $139,000. Finally, Assetmark Inc. increased its position in BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 101 shares during the period. 83.36% of the stock is owned by institutional investors and hedge funds.
In related news, insider Jeff A. Smith sold 500 shares of the stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $515.84, for a total value of $257,920.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William E. Ford bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The stock was purchased at an average price of $530.95 per share, for a total transaction of $530,950.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 6,716 shares of company stock worth $3,702,471. 1.86% of the stock is owned by company insiders.
Shares of BLK stock opened at $541.69 on Thursday. The company has a market cap of $87.59 billion, a PE ratio of 23.97, a P/E/G ratio of 1.65 and a beta of 1.67. BlackRock has a 52 week low of $393.00 and a 52 week high of $594.52. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.96 and a quick ratio of 3.96.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, April 12th. The asset manager reported $6.70 EPS for the quarter, topping the consensus estimate of $6.39 by $0.31. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $5.25 EPS. sell-side analysts expect that BlackRock will post 28.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Thursday, June 7th will be issued a $2.88 dividend. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.13%. BlackRock’s dividend payout ratio is currently 50.97%.
A number of research firms have weighed in on BLK. Deutsche Bank decreased their target price on shares of BlackRock from $623.00 to $614.00 and set a “buy” rating for the company in a research report on Friday, April 6th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $640.00 target price on shares of BlackRock in a research report on Wednesday, March 14th. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Citigroup downgraded shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price for the company. in a research report on Thursday, January 25th. Finally, ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. BlackRock has a consensus rating of “Buy” and an average target price of $566.62.
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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