First Interstate Bank Purchases Shares of 636 BlackRock (NYSE:BLK)

First Interstate Bank 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 636 shares of the asset manager's stock, valued at approximately $602,000.

Other institutional investors have also recently bought and sold shares of the company. Polar Capital Holdings Plc bought a new position in BlackRock in the fourth quarter valued at approximately $15,307,000. Community Financial Services Group LLC boosted its stake in shares of BlackRock by 17.2% during the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after buying an additional 836 shares during the last quarter. Kennedy Investment Group acquired a new position in shares of BlackRock during the 1st quarter worth about $568,000. 3Chopt Investment Partners LLC acquired a new position in shares of BlackRock during the 1st quarter worth about $578,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of BlackRock by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 17,057 shares of the asset manager's stock worth $16,144,000 after buying an additional 457 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

BLK stock traded up $8.37 during mid-day trading on Wednesday, hitting $1,083.39. 26,543 shares of the company were exchanged, compared to its average volume of 692,821. The business has a 50 day simple moving average of $986.01 and a 200-day simple moving average of $970.03. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $167.85 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 3.24 and a beta of 1.41. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,086.84.

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

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders 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 dividend yield of 1.92%. BlackRock's payout ratio is 50.63%.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Citigroup reduced their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Bank of America cut their target price on shares of 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. Barclays raised their target price on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $1,164.00 target price on shares of BlackRock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and an average target price of $1,108.62.

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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