First American Trust FSB Acquires 491 Shares of BlackRock (NYSE:BLK)

Key Points

• First American Trust FSB increased its holdings in BlackRock by 4.3% in the first quarter, acquiring an additional 491 shares to own a total of 11,960 shares, valued at approximately $11.32 million.
• BlackRock reported an earnings per share (EPS) of $12.05 for the last quarter, exceeding analyst estimates, with revenue reaching $5.42 billion, a 12.9% increase from the previous year.
• The company declared a quarterly dividend of $5.21 per share, representing an annualized yield of 1.9%, with the ex-dividend date set for September 5th.

First American Trust FSB raised its holdings in BlackRock (NYSE:BLK - Free Report) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,960 shares of the asset manager's stock after buying an additional 491 shares during the quarter. BlackRock comprises 1.0% of First American Trust FSB's investment portfolio, making the stock its 24th largest position. First American Trust FSB's holdings in BlackRock were worth $11,320,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Securian Asset Management Inc. bought a new stake in shares of BlackRock during the first quarter valued at approximately $7,331,000. Prudent Man Advisors LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $2,018,000. Arizona State Retirement System bought a new stake in BlackRock in the first quarter worth $40,868,000. Allianz SE boosted its holdings in BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock worth $10,435,000 after acquiring an additional 277 shares in the last quarter. Finally, Polar Capital Holdings Plc bought a new stake in BlackRock in the fourth quarter worth $15,307,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

NYSE BLK opened at $1,124.20 on Friday. The firm has a market cap of $174.17 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42. The company has a quick ratio of 4.34, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $1,054.94 and a 200-day moving average price of $985.34. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,131.93.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%. The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.36 earnings per share. As a group, equities research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. BlackRock's dividend payout ratio is presently 50.39%.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company's stock, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the sale, the chief executive officer directly owned 263,751 shares of the company's stock, valued at $296,002,472.28. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 in the last ninety days. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods dropped their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company decreased their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. Bank of America upped their price objective on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group upped their price objective on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

BlackRock Company 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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