BlackRock (NYSE:BLK) Shares Bought by Crews Bank & Trust

Crews Bank & Trust boosted its stake in shares of BlackRock (NYSE:BLK) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,592 shares of the asset manager’s stock after buying an additional 28 shares during the quarter. Crews Bank & Trust’s holdings in BlackRock were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Shum Financial Group Inc. grew its position in shares of BlackRock by 1.5% in the first quarter. Shum Financial Group Inc. now owns 2,173 shares of the asset manager’s stock valued at $2,057,000 after purchasing an additional 32 shares during the last quarter. First PREMIER Bank acquired a new stake in shares of BlackRock in the first quarter valued at approximately $114,000. First American Bank grew its position in shares of BlackRock by 1.3% in the first quarter. First American Bank now owns 2,336 shares of the asset manager’s stock valued at $2,211,000 after purchasing an additional 29 shares during the last quarter. Nilsine Partners LLC grew its position in shares of BlackRock by 11.0% in the first quarter. Nilsine Partners LLC now owns 2,838 shares of the asset manager’s stock valued at $2,686,000 after purchasing an additional 281 shares during the last quarter. Finally, Marietta Wealth Management LLC acquired a new stake in shares of BlackRock in the first quarter valued at approximately $8,879,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $852.01, for a total value of $1,704,020.00. Following the transaction, the director now owns 66,034 shares of the company’s stock, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.98% of the company’s stock.

BlackRock Stock Down 0.5%

Shares of BLK opened at $974.60 on Friday. The firm has a market cap of $150.99 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.96 and a beta of 1.41. The company’s fifty day moving average is $948.55 and its two-hundred day moving average is $969.93. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the firm posted $9.81 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s dividend payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BLK shares. Citigroup lowered their price target on shares of 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. Barclays raised their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Morgan Stanley decreased their target price on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Argus raised their target price on shares of BlackRock from $1,028.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Finally, Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,096.31.

BlackRock 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.