28,485 Shares in BlackRock (NYSE:BLK) Acquired by Sabal Trust CO

Sabal Trust CO acquired a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,485 shares of the asset manager's stock, valued at approximately $26,960,000. BlackRock accounts for about 1.5% of Sabal Trust CO's investment portfolio, making the stock its 27th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of BlackRock by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after acquiring an additional 68,405 shares during the period. Capital World Investors boosted its position in BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares during the period. Geode Capital Management LLC grew its stake in shares of BlackRock by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after purchasing an additional 190,188 shares during the period. Finally, FMR LLC increased its position in shares of BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after purchasing an additional 26,485 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BLK traded up $13.30 during trading hours on Thursday, hitting $1,031.38. The company's stock had a trading volume of 631,243 shares, compared to its average volume of 692,895. The stock has a market cap of $159.79 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 3.05 and a beta of 1.41. The business's 50-day moving average price is $955.81 and its 200-day moving average price is $969.60. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22.

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. 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 firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $9.81 EPS. Sell-side analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.02%. BlackRock's dividend payout ratio is presently 50.63%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BLK shares. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. cut their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. TD Cowen decreased their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Argus boosted their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Wells Fargo & Company raised their target price on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and an average target price of $1,096.31.

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.