Tompkins Financial Corp Takes Position in BlackRock, Inc. (NYSE:BLK)

Tompkins Financial Corp bought a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,219 shares of the asset manager's stock, valued at approximately $10,619,000.

Other hedge funds have also modified their holdings of the company. Amalgamated Bank increased its stake in shares of BlackRock by 1.7% in the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after acquiring an additional 489 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of BlackRock by 4.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock worth $12,793,000 after acquiring an additional 578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BlackRock by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after acquiring an additional 4,210 shares during the last quarter. E. Ohman J or Asset Management AB acquired a new position in shares of BlackRock in the fourth quarter worth $46,284,000. Finally, Polar Capital Holdings Plc acquired a new position in shares of BlackRock in the fourth quarter worth $15,307,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of BLK traded up $5.21 during trading hours on Tuesday, reaching $983.28. 169,922 shares of the company traded hands, compared to its average volume of 841,332. The stock's fifty day moving average is $922.52 and its 200 day moving average is $974.09. The stock has a market cap of $152.34 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a 1-year low of $752.29 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the prior year, the business posted $9.81 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's payout ratio is 50.63%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BLK. JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Bank of America decreased their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Citigroup decreased their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, TD Cowen decreased their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.

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.