Toronto Dominion Bank Has $52.48 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Toronto Dominion Bank raised its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 51,192 shares of the asset manager's stock after purchasing an additional 577 shares during the period. Toronto Dominion Bank's holdings in BlackRock were worth $52,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Warm Springs Advisors Inc. acquired a new position in shares of BlackRock in the 4th quarter valued at about $745,000. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of BlackRock in the 4th quarter valued at about $4,359,000. Pacific Point Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at about $446,000. Vega Investment Solutions acquired a new position in shares of BlackRock in the 4th quarter valued at about $938,000. Finally, Investment Management Corp VA ADV acquired a new position in shares of BlackRock in the 4th quarter valued at about $30,000. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company's stock.

BlackRock Price Performance

Shares of BLK stock traded up $1.63 during midday trading on Friday, reaching $977.95. 1,060,907 shares of the company were exchanged, compared to its average volume of 690,922. BlackRock, Inc. has a 12 month low of $752.30 and a 12 month high of $1,084.22. The company has a market cap of $151.51 billion, a P/E ratio of 23.28, a PEG ratio of 1.90 and a beta of 1.41. The company's 50 day moving average price is $922.34 and its two-hundred day moving average price is $975.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping 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 the consensus estimate of $5.47 billion. During the same period in the previous year, the firm earned $9.81 EPS. The business's revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.13%. BlackRock's payout ratio is currently 50.63%.

Analysts Set New Price Targets

BLK has been the subject of a number of analyst reports. Bank of America reduced their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company reduced their target price on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Citigroup reduced their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. TD Cowen reduced their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, 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 research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,077.08.

About BlackRock

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.