Toronto Dominion Bank Has $52.48 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Toronto Dominion Bank grew its stake in BlackRock, Inc. (NYSE:BLK) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,192 shares of the asset manager’s stock after purchasing an additional 577 shares during the quarter. Toronto Dominion Bank’s holdings in BlackRock were worth $52,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $26,000. Investment Management Corp VA ADV bought a new stake in BlackRock in the fourth quarter valued at approximately $30,000. Collier Financial acquired a new stake in BlackRock in the fourth quarter worth $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock during the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $40,000. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 12,430 shares of company stock worth $11,237,249 over the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on BLK shares. TD Cowen dropped their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Citigroup dropped their price target on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Wall Street Zen upgraded BlackRock to a “hold” rating in a research report on Saturday. Barclays raised their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Finally, Morgan Stanley reduced their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,077.08.

BlackRock Stock Performance

Shares of BLK stock opened at $964.56 on Tuesday. BlackRock, Inc. has a 12 month low of $752.30 and a 12 month high of $1,084.22. The company’s fifty day simple moving average is $921.10 and its 200-day simple moving average is $976.41. The firm has a market cap of $149.43 billion, a PE ratio of 22.97, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the previous year, the firm posted $9.81 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.16%. BlackRock’s dividend payout ratio (DPR) is presently 50.63%.

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.