BlackRock, Inc. (NYSE:BLK) Shares Purchased by Security National Bank

Security National Bank increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,491 shares of the asset manager’s stock after acquiring an additional 138 shares during the period. BlackRock comprises 0.9% of Security National Bank’s investment portfolio, making the stock its 26th biggest position. Security National Bank’s holdings in BlackRock were worth $6,245,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Abacus Planning Group Inc. lifted its holdings in shares of BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after buying an additional 13 shares during the period. Knuff & Co LLC grew its position in shares of BlackRock by 48.1% in the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 13 shares during the period. Everhart Financial Group Inc. grew its position in shares of BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 14 shares during the period. Spreng Capital Management Inc. grew its position in BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 14 shares during the period. Finally, Magellan Asset Management Ltd grew its position in BlackRock by 3.6% during the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock valued at $328,000 after acquiring an additional 14 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

NYSE:BLK traded down $4.67 during mid-day trading on Wednesday, reaching $789.72. The stock had a trading volume of 237,791 shares, compared to its average volume of 603,756. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The stock has a market capitalization of $117.35 billion, a PE ratio of 20.04, a P/E/G ratio of 1.64 and a beta of 1.34. The stock has a 50-day simple moving average of $777.24 and a two-hundred day simple moving average of $792.54.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. BlackRock’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.93 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio is presently 51.84%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley upped their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, UBS Group increased their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the transaction, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.