BlackRock, Inc. (NYSE:BLK) Shares Bought by Exchange Bank

Exchange Bank raised its stake in BlackRock, Inc. (NYSE:BLK) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486 shares of the asset manager’s stock after purchasing an additional 18 shares during the period. Exchange Bank’s holdings in BlackRock were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BLK. Brighton Jones LLC raised its position in BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after purchasing an additional 296 shares in the last quarter. Empowered Funds LLC raised its position in BlackRock by 15.0% in the 4th quarter. Empowered Funds LLC now owns 3,121 shares of the asset manager’s stock valued at $3,199,000 after purchasing an additional 408 shares in the last quarter. Focus Financial Network Inc. acquired a new stake in shares of BlackRock during the 4th quarter worth about $627,000. Essex Financial Services Inc. acquired a new stake in shares of BlackRock during the 4th quarter worth about $818,000. Finally, Sovran Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter worth about $681,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.1%

Shares of NYSE:BLK opened at $993.30 on Thursday. The stock has a market cap of $153.89 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a 1-year low of $758.20 and a 1-year high of $1,084.22. The firm has a fifty day moving average price of $931.30 and a 200 day moving average price of $972.72.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.81 EPS. Sell-side analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.10%. BlackRock’s payout ratio is currently 50.63%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup cut their target price 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. TD Cowen cut their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Barclays lifted their price target on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,082.46.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.

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.