Cohen Capital Management Inc. Has $359,000 Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Cohen Capital Management Inc. grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 30.6% during the first quarter, HoldingsChannel.com reports. The firm owned 431 shares of the asset manager’s stock after purchasing 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 quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Abacus Planning Group Inc. boosted its stake in BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after purchasing an additional 13 shares during the period. Knuff & Co LLC raised its holdings in BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after buying an additional 13 shares during the period. Everhart Financial Group Inc. raised its holdings in BlackRock by 3.2% during the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after buying an additional 14 shares during the period. Spreng Capital Management Inc. raised its holdings in BlackRock by 1.1% during the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after buying an additional 14 shares during the period. Finally, Magellan Asset Management Ltd raised its holdings in BlackRock by 3.6% during the 4th quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock valued at $328,000 after buying an additional 14 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now 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 corporate insiders.

Wall Street Analyst Weigh In

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

BlackRock Stock Up 1.6 %

BLK stock traded up $13.26 during trading on Thursday, reaching $825.26. 634,113 shares of the company traded hands, compared to its average volume of 598,198. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The business has a 50 day simple moving average of $786.04 and a 200 day simple moving average of $792.91. The company 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. 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) last issued its quarterly earnings data 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. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the company earned $7.93 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

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.