Trust Co. of Toledo NA OH Invests $2.76 Million in BlackRock, Inc. (NYSE:BLK)

Trust Co. of Toledo NA OH purchased a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,918 shares of the asset manager's stock, valued at approximately $2,762,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. IAG Wealth Partners LLC acquired a new position in BlackRock in the fourth quarter valued at about $26,000. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock during the fourth quarter worth $30,000. Compass Planning Associates Inc bought a new stake in shares of BlackRock in the fourth quarter valued at about $33,000. Synergy Investment Management LLC acquired a new position in BlackRock during the 4th quarter worth approximately $40,000. Finally, Curio Wealth LLC bought a new position in BlackRock in the fourth quarter valued at $41,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by company insiders.

BlackRock Trading Down 1.7%

NYSE:BLK traded down $17.01 during mid-day trading on Friday, hitting $971.24. 674,277 shares of the company's stock were exchanged, compared to its average volume of 690,463. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a fifty-two week low of $766.05 and a fifty-two week high of $1,084.22. The company has a 50 day simple moving average of $937.84 and a 200-day simple moving average of $971.71. The firm has a market capitalization of $150.47 billion, a P/E ratio of 23.12, a PEG ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the previous year, the firm earned $9.81 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

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 paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.15%. BlackRock's dividend payout ratio is currently 50.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. 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 note on Thursday, April 3rd. JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley reduced their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Finally, TD Cowen lowered their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and an average target price of $1,082.46.

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.