ST Germain D J Co. Inc. Acquires 2,435 Shares of BlackRock $BLK

Key Points

• ST Germain D J Co. Inc. increased its stake in BlackRock by 10.9%, acquiring an additional 2,435 shares in the second quarter, bringing its total holdings to 24,772 shares valued at approximately $25.99 million.
• BlackRock's stock, which opened at $1,146.33, has seen a 1-year low of $773.74 and a high of $1,171.89, with a market capitalization of $177.51 billion.
• The company recently declared a quarterly dividend of $5.21 per share, resulting in an annualized yield of 1.8%, while maintaining a dividend payout ratio of 50.39%.

ST Germain D J Co. Inc. raised its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,772 shares of the asset manager's stock after purchasing an additional 2,435 shares during the period. BlackRock accounts for about 1.1% of ST Germain D J Co. Inc.'s holdings, making the stock its 24th largest holding. ST Germain D J Co. Inc.'s holdings in BlackRock were worth $25,992,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BLK. Brighton Jones LLC boosted its holdings in BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after acquiring an additional 296 shares in the last quarter. Bison Wealth LLC boosted its stake in shares of BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock valued at $1,078,000 after purchasing an additional 17 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of BlackRock during the fourth quarter valued at about $216,000. Park Square Financial Group LLC purchased a new stake in BlackRock in the fourth quarter worth about $50,000. Finally, Centaurus Financial Inc. bought a new stake in BlackRock during the 4th quarter valued at approximately $1,174,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,146.33 on Friday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. The firm's 50-day moving average is $1,123.70 and its 200 day moving average is $1,018.07. The stock has a market cap of $177.51 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.16 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock's revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $10.36 EPS. Sell-side analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a $5.21 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock's dividend payout ratio is 50.39%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BLK. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Morgan Stanley reduced their price target on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Wells Fargo & Company lowered their price objective on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Argus reaffirmed a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group lifted their price target on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,154.07.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 12,054 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the transaction, the chief executive officer directly owned 251,697 shares of the company's stock, valued at $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock 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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