Greenfield Savings Bank Increases Stock Position in BlackRock $BLK

Greenfield Savings Bank increased its position in shares of BlackRock (NYSE:BLK) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,282 shares of the asset manager’s stock after purchasing an additional 145 shares during the quarter. Greenfield Savings Bank’s holdings in BlackRock were worth $1,345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC boosted its stake in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its holdings in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares during the period. Garde Capital Inc. boosted its position in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in BlackRock in the fourth quarter worth $30,000. Finally, Cheviot Value Management LLC bought a new position in BlackRock in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fabrizio Freda sold 4,434 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock worth $74,694,573 over the last three months. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BLK shares. The Goldman Sachs Group reissued a “buy” rating and issued a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. Argus reaffirmed a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,154.07.

BlackRock Trading Down 0.9%

Shares of BLK opened at $1,124.34 on Friday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The stock has a market cap of $174.10 billion, a PE ratio of 27.18, a P/E/G ratio of 2.17 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $1,115.88 and its 200-day moving average price is $1,007.38.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.36 earnings per share. On average, equities analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is 50.39%.

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.