Orrstown Financial Services Inc. Takes $291,000 Position in BlackRock, Inc. (NYSE:BLK)

Orrstown Financial Services Inc. bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 307 shares of the asset manager's stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at $26,000. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock in the fourth quarter valued at $30,000. Collier Financial acquired a new stake in shares of BlackRock in the fourth quarter valued at $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at $40,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction dated 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 now directly owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Up 0.5%

BLK opened at $990.26 on Friday. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22. The stock's fifty day simple moving average is $925.28 and its 200 day simple moving average is $973.18. 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 $153.42 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

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

BlackRock Announces Dividend

The company 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 of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.10%. BlackRock's dividend payout ratio is presently 50.63%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BLK. JPMorgan Chase & Co. lowered their price objective on 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 lowered their price objective on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. TD Cowen lowered 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 lifted their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,082.46.

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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