Legacy Trust Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Legacy Trust purchased a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 780 shares of the asset manager's stock, valued at approximately $738,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. IAG Wealth Partners LLC purchased a new stake in BlackRock during the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV bought a new position in shares of BlackRock during the 4th quarter valued at approximately $30,000. Compass Planning Associates Inc purchased a new stake in BlackRock during the 4th quarter valued at $33,000. Synergy Investment Management LLC bought a new stake in BlackRock in the fourth quarter worth $40,000. Finally, Curio Wealth LLC purchased a new position in BlackRock during the fourth quarter worth $41,000. Institutional investors own 80.69% of the company's stock.

Insider Transactions at BlackRock

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 completion of the sale, the director now owns 66,034 shares in the company, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BLK. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Barclays increased their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. JPMorgan Chase & Co. cut their price objective 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. Bank of America decreased their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Citigroup cut 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 report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,082.46.

BlackRock Trading Down 1.7%

NYSE BLK traded down $17.01 during trading on Friday, hitting $971.24. The stock had a trading volume of 674,277 shares, compared to its average volume of 689,208. The company has a market capitalization of $150.47 billion, a PE ratio of 23.12, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a twelve month low of $759.99 and a twelve month high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average price of $934.71 and a 200 day moving average price of $972.41.

BlackRock (NYSE:BLK - Get Free Report) last announced 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 return on equity of 16.32% and a net margin of 31.21%. 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 previous year, the business earned $9.81 EPS. BlackRock's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock, Inc. 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 issued a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.15%. BlackRock's payout ratio is 50.63%.

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.