4,361 Shares in BlackRock (NYSE:BLK) Acquired by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. acquired a new position in BlackRock (NYSE:BLK) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,361 shares of the asset manager’s stock, valued at approximately $4,128,000.

A number of other hedge funds have also recently made changes to their positions in the business. Canandaigua National Trust Co of Florida bought a new stake in shares of BlackRock in the 1st quarter worth approximately $357,000. Albion Financial Group UT lifted its stake in BlackRock by 3.0% in the first quarter. Albion Financial Group UT now owns 11,695 shares of the asset manager’s stock worth $11,069,000 after purchasing an additional 340 shares during the last quarter. Amalgamated Bank lifted its stake in BlackRock by 1.0% in the first quarter. Amalgamated Bank now owns 29,004 shares of the asset manager’s stock worth $27,452,000 after purchasing an additional 293 shares during the last quarter. Guerra Advisors Inc lifted its stake in BlackRock by 7.0% in the first quarter. Guerra Advisors Inc now owns 1,190 shares of the asset manager’s stock worth $1,126,000 after purchasing an additional 78 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its stake in shares of BlackRock by 2.9% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 818 shares of the asset manager’s stock valued at $774,000 after acquiring an additional 23 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

BLK stock opened at $1,049.35 on Monday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The company has a market cap of $162.58 billion, a P/E ratio of 25.49, a PEG ratio of 3.18 and a beta of 1.41. The firm has a 50-day moving average of $962.39 and a 200 day moving average of $968.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the firm earned $9.81 earnings per share. BlackRock’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Thursday, June 5th. BlackRock’s dividend payout ratio is currently 50.63%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BLK shares. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Wells Fargo & Company boosted their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Bank of America lowered their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Argus upped their price objective on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Finally, Wall Street Zen raised shares of BlackRock to a “hold” rating in a research note on Saturday, May 24th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,102.08.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by corporate insiders.

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.