Cohen Capital Management Inc. Purchases 101 Shares of BlackRock, Inc. (NYSE:BLK)

Cohen Capital Management Inc. increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 30.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 431 shares of the asset manager’s stock after buying an additional 101 shares during the period. Cohen Capital Management Inc.’s holdings in BlackRock were worth $359,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BLK. Townsquare Capital LLC raised its stake in BlackRock by 9.7% during the third quarter. Townsquare Capital LLC now owns 2,090 shares of the asset manager’s stock worth $1,351,000 after buying an additional 184 shares during the last quarter. Creative Planning increased its stake in BlackRock by 10.8% in the third quarter. Creative Planning now owns 21,715 shares of the asset manager’s stock valued at $14,038,000 after purchasing an additional 2,123 shares in the last quarter. Diversified Trust Co increased its stake in BlackRock by 14.2% in the third quarter. Diversified Trust Co now owns 2,249 shares of the asset manager’s stock valued at $1,454,000 after purchasing an additional 279 shares in the last quarter. Silver Oak Securities Incorporated bought a new stake in BlackRock in the third quarter valued at $132,000. Finally, Tompkins Financial Corp increased its stake in BlackRock by 11.2% in the third quarter. Tompkins Financial Corp now owns 10,137 shares of the asset manager’s stock valued at $6,553,000 after purchasing an additional 1,020 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

BlackRock Stock Up 1.6 %

BlackRock stock traded up $13.26 during midday trading on Thursday, hitting $825.26. 634,113 shares of the stock were exchanged, compared to its average volume of 598,198. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $122.63 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The business’s 50-day moving average price is $786.04 and its 200-day moving average price is $792.91.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $7.93 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Friday, June 7th. BlackRock’s payout ratio is 51.84%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BLK. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen decreased their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday. UBS Group decreased their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $915.00 target price on shares of BlackRock in a research report on Tuesday, July 2nd. Finally, Morgan Stanley decreased their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $844.67.

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.