Farmers & Merchants Trust Co of Chambersburg PA grew its stake in BlackRock, Inc. (NYSE:BLK) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,840 shares of the asset manager’s stock after buying an additional 150 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in BlackRock were worth $786,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of BLK. Raymond James & Associates grew its position in BlackRock by 7.6% during the fourth quarter. Raymond James & Associates now owns 166,642 shares of the asset manager’s stock valued at $65,467,000 after buying an additional 11,811 shares during the period. Smith Moore & CO. lifted its holdings in BlackRock by 14.6% during the fourth quarter. Smith Moore & CO. now owns 590 shares of the asset manager’s stock valued at $232,000 after purchasing an additional 75 shares in the last quarter. Morningstar Investment Services LLC lifted its holdings in BlackRock by 108.6% during the fourth quarter. Morningstar Investment Services LLC now owns 83,769 shares of the asset manager’s stock valued at $32,906,000 after purchasing an additional 43,614 shares in the last quarter. JGP Wealth Management LLC lifted its holdings in BlackRock by 37.0% during the fourth quarter. JGP Wealth Management LLC now owns 8,887 shares of the asset manager’s stock valued at $3,491,000 after purchasing an additional 2,398 shares in the last quarter. Finally, Burns J W & Co. Inc. NY lifted its holdings in BlackRock by 9.9% during the fourth quarter. Burns J W & Co. Inc. NY now owns 1,106 shares of the asset manager’s stock valued at $434,000 after purchasing an additional 100 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:BLK traded down $0.57 during midday trading on Monday, hitting $453.78. The company’s stock had a trading volume of 9,108 shares, compared to its average volume of 554,671. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64. The company has a market cap of $72.14 billion, a P/E ratio of 16.84, a P/E/G ratio of 1.68 and a beta of 1.40. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $557.00.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $3.30 per share. The ex-dividend date was Tuesday, March 5th. This is an increase from BlackRock’s previous quarterly dividend of $3.13. This represents a $13.20 dividend on an annualized basis and a yield of 2.91%. BlackRock’s payout ratio is 49.02%.
In other BlackRock news, insider J. Richard Kushel sold 3,077 shares of BlackRock stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $409.29, for a total transaction of $1,259,385.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 5,133 shares of BlackRock stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $443.00, for a total transaction of $2,273,919.00. The disclosure for this sale can be found here. Insiders have sold 138,650 shares of company stock worth $57,774,089 over the last ninety days. 1.75% of the stock is owned by insiders.
Several research firms have issued reports on BLK. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $491.00 price objective on the stock in a report on Tuesday, April 2nd. Deutsche Bank increased their price objective on shares of BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a report on Friday, March 15th. Barclays increased their price objective on shares of BlackRock from $472.00 to $490.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Bank of America reaffirmed a “buy” rating and set a $498.00 price objective (up from $490.00) on shares of BlackRock in a report on Friday, March 8th. Finally, Morgan Stanley set a $515.00 price objective on shares of BlackRock and gave the company a “buy” rating in a report on Friday, February 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $497.95.
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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.
See Also: Diversification
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