64,223 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by First Financial Bankshares Inc

First Financial Bankshares Inc bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 64,223 shares of the asset manager’s stock, valued at approximately $52,136,000. BlackRock accounts for approximately 1.3% of First Financial Bankshares Inc’s holdings, making the stock its 25th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Emerald Advisors LLC grew its position in BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after purchasing an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in BlackRock by 1.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after purchasing an additional 21 shares in the last quarter. Carolinas Wealth Consulting LLC grew its position in BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after purchasing an additional 40 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its position in BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after purchasing an additional 60 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of BlackRock during the 4th quarter valued at $439,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

BlackRock stock traded down $9.03 on Tuesday, reaching $757.14. 286,386 shares of the stock were exchanged, compared to its average volume of 609,125. The stock has a market cap of $112.51 billion, a PE ratio of 19.24, a PEG ratio of 1.59 and a beta of 1.34. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The firm has a fifty day moving average price of $779.07 and a two-hundred day moving average price of $789.84.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during 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%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.93 EPS. Sell-side analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a dividend of $5.10 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $20.40 annualized dividend and a dividend yield of 2.69%. BlackRock’s payout ratio is 51.84%.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research reports. UBS Group lifted their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, Morgan Stanley lifted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $845.42.

Insider Transactions at BlackRock

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

BlackRock Company 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.