Tompkins Financial Corp Decreases Stake in BlackRock, Inc. (NYSE:BLK)

Tompkins Financial Corp reduced its stake in BlackRock, Inc. (NYSE:BLK) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,117 shares of the asset manager’s stock after selling 213 shares during the quarter. Tompkins Financial Corp’s holdings in BlackRock were worth $6,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Charles Schwab Investment Management Inc. increased its position in shares of BlackRock by 14.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,335,602 shares of the asset manager’s stock valued at $2,363,708,000 after acquiring an additional 430,524 shares during the period. Morgan Stanley boosted its position in BlackRock by 4.2% in the fourth quarter. Morgan Stanley now owns 3,174,621 shares of the asset manager’s stock valued at $2,249,634,000 after buying an additional 129,335 shares during the last quarter. Geode Capital Management LLC boosted its position in BlackRock by 1.6% in the first quarter. Geode Capital Management LLC now owns 2,664,331 shares of the asset manager’s stock valued at $1,778,039,000 after buying an additional 41,280 shares during the last quarter. Northern Trust Corp boosted its position in BlackRock by 0.8% in the first quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock valued at $1,463,536,000 after buying an additional 15,290 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in BlackRock by 3.2% in the first quarter. Fisher Asset Management LLC now owns 1,842,425 shares of the asset manager’s stock valued at $1,232,804,000 after buying an additional 57,862 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 20,200 shares of BlackRock stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total transaction of $14,989,208.00. Following the sale, the chief executive officer now owns 464,125 shares of the company’s stock, valued at approximately $344,399,315. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other BlackRock news, CEO Laurence Fink sold 20,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total value of $14,989,208.00. Following the transaction, the chief executive officer now directly owns 464,125 shares of the company’s stock, valued at approximately $344,399,315. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 2,079 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $733.82, for a total transaction of $1,525,611.78. Following the completion of the transaction, the director now directly owns 6,160 shares in the company, valued at $4,520,331.20. The disclosure for this sale can be found here. 1.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BLK. Keefe, Bruyette & Woods upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $770.00 to $835.00 in a research report on Monday, July 10th. StockNews.com assumed coverage on shares of BlackRock in a research report on Thursday, August 17th. They set a “hold” rating for the company. Jefferies Financial Group lifted their price target on BlackRock from $741.00 to $781.00 in a research report on Monday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $780.00 to $785.00 in a research report on Monday, July 17th. Finally, Citigroup lifted their price target on BlackRock from $750.00 to $815.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $767.69.

BlackRock Price Performance

BLK traded down $5.93 during midday trading on Tuesday, hitting $688.96. 63,712 shares of the company traded hands, compared to its average volume of 637,306. The business has a 50 day simple moving average of $706.56 and a two-hundred day simple moving average of $681.26. BlackRock, Inc. has a 52-week low of $503.12 and a 52-week high of $785.65. The company has a market capitalization of $102.86 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.96 and a beta of 1.29. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.36.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, July 14th. The asset manager reported $9.28 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.76. BlackRock had a net margin of 29.90% and a return on equity of 14.29%. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the company posted $7.36 EPS. BlackRock’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that BlackRock, Inc. will post 35.48 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $20.00 annualized dividend and a yield of 2.90%. BlackRock’s dividend payout ratio (DPR) is currently 58.41%.

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.