Arrow Financial Corp Decreases Position in BlackRock (NYSE:BLK)

Arrow Financial Corp lessened its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 38.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,562 shares of the asset manager's stock after selling 2,219 shares during the period. Arrow Financial Corp's holdings in BlackRock were worth $3,371,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Hazlett Burt & Watson Inc. raised its stake in BlackRock by 2.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock valued at $542,000 after buying an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in BlackRock by 4.5% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after buying an additional 11 shares during the last quarter. Detalus Advisors LLC raised its stake in shares of BlackRock by 2.8% in the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after purchasing an additional 11 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of BlackRock by 20.4% in the first quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock worth $62,000 after purchasing an additional 11 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of BlackRock by 3.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock valued at $409,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BlackRock stock traded up $2.88 during midday trading on Thursday, reaching $1,123.25. 188,836 shares of the stock traded hands, compared to its average volume of 795,666. The stock's fifty day moving average is $1,022.22 and its 200-day moving average is $975.06. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,125.76. The stock has a market cap of $174.03 billion, a P/E ratio of 27.16, a PEG ratio of 2.22 and a beta of 1.41. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company earned $10.36 earnings per share. The firm's revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.86%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group reaffirmed a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. The Goldman Sachs Group reiterated a "buy" rating and set a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Wells Fargo & Company reduced their price objective on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.

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.