Canandaigua National Trust Co of Florida Purchases Shares of 377 BlackRock (NYSE:BLK)

Canandaigua National Trust Co of Florida purchased a new stake in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 377 shares of the asset manager's stock, valued at approximately $357,000.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after purchasing an additional 296 shares in the last quarter. Proficio Capital Partners LLC raised its position in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock worth $634,000 after acquiring an additional 633,779 shares in the last quarter. Sherman Asset Management Inc. bought a new stake in BlackRock during the fourth quarter worth $120,000. PCG Asset Management LLC bought a new stake in BlackRock during the fourth quarter worth $687,000. Finally, Hickory Point Bank & Trust bought a new stake in BlackRock during the fourth quarter worth $530,000. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the company'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 sale, the director now owns 66,034 shares of the company's stock, valued at $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.98% of the stock is currently owned by company insiders.

BlackRock Trading Up 1.8%

BLK stock opened at $1,049.35 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The company's 50-day simple moving average is $962.39 and its 200 day simple moving average is $968.13. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22. The company has a market capitalization of $162.58 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the company posted $9.81 earnings per share. BlackRock's revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current 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 dividend of $5.21 per share. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.99%. BlackRock's dividend payout ratio is 50.63%.

Analysts Set New Price Targets

Several analysts have issued reports on BLK shares. Bank of America dropped their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Argus upped their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. The Goldman Sachs Group upped their price target on shares of BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. dropped their price target 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, Morgan Stanley decreased their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,102.08.

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.

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