Jump Financial LLC Has $14.32 Million Stake in BlackRock $BLK

Key Points

• Jump Financial LLC significantly increased its holdings in BlackRock, acquiring an additional 14,344 shares and raising its stake by 1,824.9% to a value of $14.32 million.
• BlackRock's latest earnings report showed an EPS of $12.05, surpassing estimates, while the company's stock has a market cap of $177.75 billion with a dividend yield of 1.8%.
• Recent insider trading included a notable sale by CEO Laurence Fink, who sold 14,828 shares, reducing his ownership by 5.32%.

Jump Financial LLC lifted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 1,824.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,130 shares of the asset manager's stock after purchasing an additional 14,344 shares during the quarter. Jump Financial LLC's holdings in BlackRock were worth $14,320,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. APG Asset Management N.V. lifted its holdings in shares of BlackRock by 281.8% during the 1st quarter. APG Asset Management N.V. now owns 100,980 shares of the asset manager's stock valued at $88,479,000 after purchasing an additional 74,531 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of BlackRock by 4.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the asset manager's stock valued at $2,601,000 after purchasing an additional 125 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of BlackRock by 1,330.4% during the 1st quarter. AlphaQuest LLC now owns 329 shares of the asset manager's stock valued at $311,000 after purchasing an additional 306 shares in the last quarter. Strategies Wealth Advisors LLC bought a new position in shares of BlackRock during the 1st quarter valued at about $466,000. Finally, Allstate Corp bought a new position in shares of BlackRock during the 1st quarter valued at about $2,697,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Up 2.1%

NYSE:BLK opened at $1,147.8720 on Friday. The firm has a market capitalization of $177.75 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.20 and a beta of 1.42. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The stock's 50 day moving average price is $1,086.01 and its two-hundred day moving average price is $992.61. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.36 EPS. Equities research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock's payout ratio is 50.39%.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the transaction, the chief executive officer owned 263,751 shares of the company's stock, valued at $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock worth $74,694,573 over the last 90 days. Company insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Morgan Stanley cut their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Zacks Research lowered BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. UBS Group reissued a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

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.

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