First Financial Bank Trust Division lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,518 shares of the asset manager’s stock after selling 855 shares during the period. BlackRock comprises approximately 1.5% of First Financial Bank Trust Division’s investment portfolio, making the stock its 19th largest holding. First Financial Bank Trust Division’s holdings in BlackRock were worth $13,208,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. McCarthy Asset Management Inc. acquired a new position in shares of BlackRock during the 4th quarter worth approximately $25,000. Sittner & Nelson LLC acquired a new position in BlackRock during the fourth quarter worth $25,000. Baron Silver Stevens Financial Advisors LLC bought a new stake in BlackRock during the fourth quarter worth $35,000. SOA Wealth Advisors LLC. acquired a new stake in BlackRock in the fourth quarter valued at $36,000. Finally, American Research & Management Co. grew its position in shares of BlackRock by 333.3% in the 4th quarter. American Research & Management Co. now owns 52 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 40 shares during the period. 79.10% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on BLK shares. Wells Fargo & Company lifted their price target on BlackRock from $875.00 to $890.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Investment Research cut BlackRock from a “buy” rating to a “hold” rating and set a $733.00 price target on the stock. in a research note on Monday, December 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $835.00 to $838.00 and gave the stock a “buy” rating in a research report on Friday, January 15th. Barclays increased their price objective on shares of BlackRock from $800.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, January 15th. Finally, BMO Capital Markets upped their price target on shares of BlackRock from $709.00 to $715.00 and gave the company a “market perform” rating in a research note on Friday, January 15th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $740.09.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 13th. The asset manager reported $10.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $9.14 by $1.04. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.28 billion. BlackRock had a return on equity of 15.74% and a net margin of 30.43%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.34 earnings per share. As a group, equities research analysts forecast that BlackRock, Inc. will post 36.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 23rd. Investors of record on Friday, March 5th were paid a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, March 4th. This is an increase from BlackRock’s previous quarterly dividend of $3.63. BlackRock’s payout ratio is 48.85%.
In other BlackRock news, CFO Gary Shedlin sold 3,206 shares of the company’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $730.41, for a total transaction of $2,341,694.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 27,400 shares of BlackRock stock in a transaction on Tuesday, February 2nd. The shares were sold at an average price of $728.77, for a total value of $19,968,298.00. The disclosure for this sale can be found here. Insiders have sold 40,418 shares of company stock valued at $29,492,515 in the last ninety days. 1.42% of the stock is currently owned by company insiders.
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.
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