Orrstown Financial Services Inc. Acquires Shares of 307 BlackRock, Inc. (NYSE:BLK)

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

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after buying an additional 296 shares in the last quarter. Silver Oak Securities Incorporated acquired a new position in shares of BlackRock in the 4th quarter valued at approximately $301,000. Telos Capital Management Inc. bought a new stake in BlackRock during the 4th quarter worth approximately $213,000. Strategic Financial Concepts LLC bought a new position in BlackRock in the fourth quarter valued at approximately $34,700,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $270,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLK. Barclays upped 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. Citigroup lowered their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group reduced their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Morgan Stanley lowered their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Finally, Bank of America decreased their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and an average target price of $1,082.46.

BlackRock Stock Performance

BLK stock traded up $1.40 during midday trading on Wednesday, reaching $993.30. 458,460 shares of the company were exchanged, compared to its average volume of 688,563. The firm has a market capitalization of $153.89 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The business has a 50-day moving average price of $927.88 and a two-hundred day moving average price of $972.57. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the prior year, the business earned $9.81 EPS. BlackRock's quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. BlackRock's dividend payout ratio is 50.63%.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction on 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 sale, the director now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.98% of the company's stock.

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.