Security National Bank Makes New Investment in BlackRock (NYSE:BLK)

Security National Bank acquired a new stake in BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,035 shares of the asset manager's stock, valued at approximately $6,658,000. BlackRock makes up approximately 1.3% of Security National Bank's investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BLK. Vanguard Group Inc. lifted its position in BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after buying an additional 68,405 shares in the last quarter. Capital World Investors raised its stake in shares of BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after acquiring an additional 93,844 shares during the period. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC boosted its position in BlackRock by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock worth $3,072,787,000 after purchasing an additional 190,188 shares during the period. Finally, FMR LLC increased its holdings in BlackRock by 1.1% in 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 in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BLK shares. TD Cowen reduced 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. UBS Group reduced their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company upped their price target on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Barclays lifted their price objective 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, JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,096.31.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction that occurred on 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 sale, the director now directly owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Up 1.3%

Shares of NYSE:BLK traded up $13.30 during midday trading on Thursday, reaching $1,031.38. The company had a trading volume of 631,243 shares, compared to its average volume of 692,895. BlackRock has a one year low of $773.74 and a one year high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The stock has a market capitalization of $159.79 billion, a P/E ratio of 25.06, a PEG ratio of 3.05 and a beta of 1.41. The stock's fifty day moving average price is $955.81 and its 200-day moving average price is $969.60.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the firm earned $9.81 EPS. The company's revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's payout ratio is currently 50.63%.

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.