Bangor Savings Bank Takes $1.48 Million Position in BlackRock, Inc. (NYSE:BLK)

Bangor Savings Bank bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,566 shares of the asset manager's stock, valued at approximately $1,482,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 purchasing an additional 68,405 shares during the last quarter. Capital World Investors raised its holdings 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 valued at $4,200,450,000 after buying an additional 93,844 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Geode Capital Management LLC raised its stake in BlackRock by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after acquiring an additional 190,188 shares during the last quarter. Finally, FMR LLC raised its stake in 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 acquiring an additional 26,485 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Trading Up 0.5%

Shares of BlackRock stock opened at $990.26 on Friday. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The stock has a market cap of $153.42 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a 50-day moving average of $925.28 and a two-hundred day moving average of $973.18. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the business posted $9.81 EPS. BlackRock's quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.10%. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLK. Morgan Stanley cut their price target 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. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Wells Fargo & Company upped 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. UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Barclays increased their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus target price of $1,082.46.

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.

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