Amica Mutual Insurance Co. Purchases 3,587 Shares of BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

Amica Mutual Insurance Co. increased its position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 96.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,300 shares of the asset manager’s stock after acquiring an additional 3,587 shares during the period. Amica Mutual Insurance Co.’s holdings in BlackRock were worth $5,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of BlackRock in the 4th quarter worth $1,812,920,000. Capital World Investors raised its position in BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after purchasing an additional 1,279,952 shares in the last quarter. Capital Research Global Investors lifted its stake in BlackRock by 23.7% during the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after purchasing an additional 749,654 shares during the last quarter. Mayflower Financial Advisors LLC increased its position in shares of BlackRock by 24,171.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after purchasing an additional 414,300 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. Insiders have sold a total of 81,042 shares of company stock valued at $68,587,117 over the last ninety days. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.0 %

BLK stock traded up $0.30 on Monday, reaching $883.14. The company’s stock had a trading volume of 413,845 shares, compared to its average volume of 594,524. The firm has a market cap of $131.23 billion, a PE ratio of 22.51, a PEG ratio of 1.92 and a beta of 1.32. The business has a fifty day simple moving average of $828.48 and a two-hundred day simple moving average of $805.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $889.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32.

BlackRock (NYSE:BLK – Get Free Report) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm posted $9.28 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that BlackRock, Inc. will post 41.23 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.31%. BlackRock’s dividend payout ratio is presently 51.84%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup lifted their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley lowered their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Evercore ISI boosted their target price on BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, UBS Group dropped their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $874.07.

Read Our Latest Report on BlackRock

BlackRock Company Profile

(Free Report)

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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