NBT Bank N A NY Acquires New Position in BlackRock (NYSE:BLK)

NBT Bank N A NY bought a new position in shares of BlackRock (NYSE:BLK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,655 shares of the asset manager's stock, valued at approximately $2,513,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after buying an additional 68,405 shares during the period. Capital World Investors increased its position in shares of BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after acquiring an additional 93,844 shares in the last quarter. GAMMA Investing LLC lifted its position in BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after acquiring an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC increased its position in shares of BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock worth $3,072,787,000 after acquiring an additional 190,188 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after buying an additional 26,485 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BLK. JPMorgan Chase & Co. dropped their price target 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. Barclays upped their price objective on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Wells Fargo & Company upped their price target on BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Citigroup dropped their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,096.31.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred 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 of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is owned by insiders.

BlackRock Stock Up 0.9%

Shares of NYSE:BLK traded up $8.70 during midday trading on Thursday, hitting $977.88. 662,589 shares of the company's stock were exchanged, compared to its average volume of 690,856. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The company has a market cap of $151.50 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.97 and a beta of 1.41. The stock has a 50 day moving average price of $944.22 and a 200-day moving average price of $971.11. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (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 analysts' expectations of $5.47 billion. During the same quarter in the previous 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. On average, sell-side analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

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 issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.13%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

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.