Toronto Dominion Bank Buys 577 Shares of BlackRock, Inc. (NYSE:BLK)

Toronto Dominion Bank boosted its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC bought a new position in BlackRock during the 4th quarter worth about $106,000. Snowden Capital Advisors LLC increased its holdings in BlackRock by 1.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 8,827 shares of the asset manager's stock worth $9,048,000 after purchasing an additional 148 shares in the last quarter. Siemens Fonds Invest GmbH increased its holdings in BlackRock by 1.1% during the 4th quarter. Siemens Fonds Invest GmbH now owns 1,983 shares of the asset manager's stock worth $2,033,000 after purchasing an additional 21 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in BlackRock by 8.8% during the 4th quarter. Rafferty Asset Management LLC now owns 51,358 shares of the asset manager's stock worth $52,648,000 after purchasing an additional 4,151 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in BlackRock during the 4th quarter worth about $8,301,000. Institutional investors own 80.69% of the company's stock.

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. The business has a 50 day moving average price of $919.68 and a 200-day moving average price of $978.24. 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 company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $9.81 earnings per share. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal 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 paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.09%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BLK shares. JPMorgan Chase & Co. lowered their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company lowered their target price on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. StockNews.com started coverage on BlackRock in a research report on Friday. They issued a "hold" rating on the stock. Bank of America lowered their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, Barclays lifted their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,077.08.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 12,430 shares of company stock worth $11,237,249 in the last ninety days. 1.98% of the stock is owned by company insiders.

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.