Banco Santander S.A. Has $7.67 Million Stake in BlackRock, Inc. (NYSE:BLK)

Posted by Martin Roberts on Aug 6th, 2022

Banco Santander S.A. increased its stake in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 10.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,035 shares of the asset manager’s stock after acquiring an additional 930 shares during the period. Banco Santander S.A.’s holdings in BlackRock were worth $7,670,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Steward Financial Group LLC acquired a new position in shares of BlackRock during the 4th quarter valued at about $27,000. Western Pacific Wealth Management LP acquired a new stake in BlackRock in the 4th quarter valued at approximately $27,000. Sierra Capital LLC acquired a new stake in BlackRock in the 4th quarter valued at approximately $29,000. Confluence Wealth Services Inc. acquired a new stake in BlackRock in the 4th quarter valued at approximately $35,000. Finally, Covestor Ltd acquired a new stake in BlackRock in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 93.81% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $695.93 on Friday. BlackRock, Inc. has a 1-year low of $575.60 and a 1-year high of $973.16. The company has a 50 day moving average of $633.39 and a 200-day moving average of $687.70. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.39. The firm has a market cap of $105.43 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 3.65 and a beta of 1.25.

BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings data on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a return on equity of 15.72% and a net margin of 30.12%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the firm posted $10.03 EPS. BlackRock’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts forecast that BlackRock, Inc. will post 33.91 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Wednesday, September 7th will be given a dividend of $4.88 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $19.52 dividend on an annualized basis and a dividend yield of 2.80%. BlackRock’s payout ratio is 51.46%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group assumed coverage on BlackRock in a report on Wednesday, April 13th. They issued a “buy” rating and a $873.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their target price on BlackRock from $747.00 to $725.00 in a report on Wednesday, July 13th. Citigroup decreased their price objective on BlackRock from $1,035.00 to $900.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. Finally, The Goldman Sachs Group decreased their price objective on BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $794.08.

Insider Activity

In other BlackRock news, President Robert Kapito sold 37,588 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares in the company, valued at approximately $143,461,238.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Robert Kapito sold 37,588 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the sale, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The disclosure for this sale can be found here. 1.06% of the stock is owned by insiders.

BlackRock Profile

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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.