Citizens Financial Group Inc. RI Has $1.78 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Citizens Financial Group Inc. RI grew its position in BlackRock, Inc. (NYSE:BLK) by 325.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,266 shares of the asset manager’s stock after purchasing an additional 1,734 shares during the period. Citizens Financial Group Inc. RI’s holdings in BlackRock were worth $1,784,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC grew its holdings in BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after acquiring an additional 40 shares during the last quarter. Zhang Financial LLC grew its holdings in BlackRock by 24.0% during the 1st quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock worth $736,000 after acquiring an additional 171 shares during the last quarter. California State Teachers Retirement System grew its holdings in BlackRock by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after acquiring an additional 1,647 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares during the last quarter. Finally, Morningstar Investment Services LLC grew its holdings in BlackRock by 97.1% during the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock worth $93,151,000 after acquiring an additional 56,357 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by corporate insiders.

BlackRock Price Performance

Shares of BLK opened at $895.18 on Tuesday. The stock has a market capitalization of $133.02 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $903.46. The company has a 50 day moving average of $860.07 and a 200-day moving average of $815.10. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $9.28 EPS. As a group, equities research analysts forecast that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.28%. BlackRock’s dividend payout ratio is presently 51.84%.

Analyst Ratings Changes

BLK has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Argus upped their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Evercore ISI upped their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. UBS Group cut their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, TD Cowen cut their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

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.