Texas Bank & Trust Co Takes $1.87 Million Position in BlackRock, Inc. (NYSE:BLK)

Texas Bank & Trust Co acquired a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,827 shares of the asset manager's stock, valued at approximately $1,873,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $26,000. Collier Financial acquired a new stake in BlackRock in the fourth quarter valued at $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock in the fourth quarter valued at $33,000. Atwood & Palmer Inc. purchased a new position in shares of BlackRock in the fourth quarter valued at $36,000. Finally, Synergy Investment Management LLC purchased a new position in shares of BlackRock in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at $56,261,628.34. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 12,430 shares of company stock valued at $11,237,249 in the last three months. Insiders own 1.98% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on BLK. Morgan Stanley decreased their price objective on 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. Bank of America decreased their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company decreased their price target on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. StockNews.com initiated coverage on BlackRock in a research note on Friday. They issued a "hold" rating on the stock. Finally, JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,077.08.

BlackRock Stock Performance

NYSE BLK traded up $4.58 during trading on Tuesday, reaching $998.24. 536,698 shares of the company's stock were exchanged, compared to its average volume of 692,129. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The stock has a market capitalization of $154.65 billion, a P/E ratio of 23.77, a PEG ratio of 1.90 and a beta of 1.41. The business has a 50 day moving average price of $919.68 and a 200-day moving average price of $978.24. 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 data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the previous year, the firm earned $9.81 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced 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. This represents a $20.84 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.

BlackRock 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.