12,122 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Webster Bank N. A.

Webster Bank N. A. acquired a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,122 shares of the asset manager's stock, valued at approximately $11,473,000. BlackRock accounts for approximately 1.3% of Webster Bank N. A.'s investment portfolio, making the stock its 19th biggest position.

Several other institutional investors also recently bought and sold shares of BLK. Vanguard Group Inc. boosted its holdings in BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after purchasing an additional 68,405 shares during the last quarter. Capital World Investors increased its position in BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after buying an additional 93,844 shares during the period. Geode Capital Management LLC increased its position in BlackRock by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after acquiring an additional 190,188 shares during the period. FMR LLC increased its holdings in shares of BlackRock by 1.1% in the fourth 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 during the period. Finally, Norges Bank acquired a new position in shares of BlackRock during the fourth quarter worth about $2,356,357,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Bank of America reduced their target price on shares of 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. TD Cowen dropped their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, Barclays raised 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,077.08.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares of the company's stock, valued at $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.98% of the company's stock.

BlackRock Price Performance

BLK traded up $4.72 during trading on Tuesday, hitting $982.79. The company's stock had a trading volume of 161,068 shares, compared to its average volume of 841,217. The firm's 50 day moving average price is $922.52 and its two-hundred day moving average price is $974.09. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12 month low of $752.29 and a 12 month high of $1,084.22. The stock has a market capitalization of $152.26 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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 business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, June 5th. BlackRock's 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.