Bremer Bank National Association Takes Position in BlackRock, Inc. (NYSE:BLK)

Bremer Bank National Association bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 651 shares of the asset manager's stock, valued at approximately $616,000.

Several other institutional investors have also recently bought and sold shares of BLK. Amalgamated Bank grew its holdings in shares of BlackRock by 1.7% in the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock valued at $29,432,000 after acquiring an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in BlackRock by 4.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock valued at $12,793,000 after purchasing an additional 578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BlackRock by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after purchasing an additional 4,210 shares during the last quarter. E. Ohman J or Asset Management AB bought a new stake in shares of BlackRock during the 4th quarter worth approximately $46,284,000. Finally, Polar Capital Holdings Plc acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $15,307,000. Institutional investors own 80.69% of the company's stock.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction 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 sale, the director now owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BLK. UBS Group decreased their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. TD Cowen cut their price objective 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. Barclays raised their price target on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Wall Street Zen raised shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and an average target price of $1,082.46.

BlackRock Price Performance

NYSE BLK traded up $6.75 on Wednesday, hitting $988.88. 491,676 shares of the company's stock were exchanged, compared to its average volume of 688,771. BlackRock, Inc. has a 52 week low of $752.30 and a 52 week high of $1,084.22. The stock has a 50-day moving average of $922.81 and a 200-day moving average of $974.15. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market cap of $153.20 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its 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. The firm had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.81 earnings per share. Analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.11%. BlackRock's dividend payout ratio is currently 50.63%.

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.