BlackRock (NYSE:BLK) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA grew its position in BlackRock (NYSE:BLK - Free Report) by 25.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,554 shares of the asset manager's stock after buying an additional 314 shares during the quarter. Private Trust Co. NA's holdings in BlackRock were worth $1,471,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BLK. Mascoma Wealth Management LLC raised its holdings in BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after purchasing an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in BlackRock by 2.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings 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 worth $263,000 after purchasing an additional 11 shares during the last quarter. Detalus Advisors LLC increased its position in BlackRock by 2.8% during the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after buying an additional 11 shares in the last quarter. Finally, Truvestments Capital LLC increased its position in BlackRock by 10.8% during the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock worth $126,000 after buying an additional 12 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.5%

BLK stock traded up $5.71 during trading on Friday, reaching $1,076.28. 342,684 shares of the stock traded hands, compared to its average volume of 694,677. The business's 50 day moving average price is $979.68 and its 200-day moving average price is $969.64. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,084.22. 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 firm has a market capitalization of $166.75 billion, a PE ratio of 26.15, a P/E/G ratio of 3.26 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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 return on equity of 15.57% and a net margin of 30.09%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the business earned $9.81 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Shareholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Transactions at BlackRock

In other BlackRock 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 transaction of $9,125,000.00. Following the completion of the sale, the director owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on BLK. Argus raised their price target on BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Barclays raised their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Wells Fargo & Company raised their price target on BlackRock from $1,105.00 to $1,180.00 and gave the stock an "overweight" rating in a research report on Thursday. Bank of America dropped their price target 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, TD Cowen dropped their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,110.92.

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.