Amalgamated Bank Purchases 293 Shares of BlackRock (NYSE:BLK)

Amalgamated Bank lifted its position in shares of BlackRock (NYSE:BLK - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,004 shares of the asset manager's stock after acquiring an additional 293 shares during the quarter. Amalgamated Bank's holdings in BlackRock were worth $27,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after acquiring an additional 68,405 shares during the last quarter. Capital World Investors raised its position in shares of BlackRock by 2.3% during 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 during the last quarter. GAMMA Investing LLC raised its position in shares of BlackRock by 104,598.9% during the first 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 during the last quarter. Geode Capital Management LLC raised 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 raised its position in shares of BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock worth $2,450,475,000 after acquiring an additional 26,485 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their price objective on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group lifted their price objective on BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research note on Friday. Wells Fargo & Company lifted their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Barclays lifted their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Finally, UBS Group decreased their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,102.08.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Up 1.8%

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

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly 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. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $9.81 earnings per share. As a group, equities analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock's dividend payout ratio (DPR) is 50.63%.

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.

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