Keybank National Association OH Cuts Position in BlackRock (NYSE:BLK)

Keybank National Association OH reduced its position in shares of BlackRock (NYSE:BLK - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,362 shares of the asset manager's stock after selling 654 shares during the period. Keybank National Association OH's holdings in BlackRock were worth $36,309,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BLK. Brighton Jones LLC increased its holdings in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after acquiring an additional 296 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in BlackRock by 138,682.5% in the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after purchasing an additional 633,779 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in BlackRock by 1.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 18,009 shares of the asset manager's stock valued at $18,461,000 after purchasing an additional 171 shares during the last quarter. Bedel Financial Consulting Inc. acquired a new stake in BlackRock during the fourth quarter worth approximately $209,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $40,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of BLK stock traded up $5.71 during midday trading on Friday, hitting $1,076.28. The company had a trading volume of 342,684 shares, compared to its average volume of 694,677. The stock has a market cap of $166.75 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 3.26 and a beta of 1.41. 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 company's 50 day simple moving average is $979.68 and its 200 day simple moving average is $969.64. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. BlackRock's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $9.81 EPS. Research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given 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 yield of 1.94%. BlackRock's payout ratio is currently 50.63%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BLK shares. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley lifted their target price on BlackRock from $1,111.00 to $1,164.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. Citigroup cut their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Bank of America reduced their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.