BlackRock, Inc. (NYSE:BLK) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky increased its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 39.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,140 shares of the asset manager’s stock after purchasing an additional 320 shares during the period. Independence Bank of Kentucky’s holdings in BlackRock were worth $925,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BLK. ERTS Wealth Advisors LLC grew its stake in BlackRock by 2.9% in the 4th quarter. ERTS Wealth Advisors LLC now owns 538 shares of the asset manager’s stock worth $437,000 after acquiring an additional 15 shares during the period. Colonial River Wealth Management LLC purchased a new stake in BlackRock in the 4th quarter worth approximately $219,000. Baskin Financial Services Inc. grew its stake in BlackRock by 0.9% in the 4th quarter. Baskin Financial Services Inc. now owns 42,776 shares of the asset manager’s stock worth $34,726,000 after acquiring an additional 398 shares during the period. Patten & Patten Inc. TN purchased a new stake in BlackRock in the 4th quarter worth approximately $205,000. Finally, Bell Bank purchased a new stake in BlackRock in the 4th quarter worth approximately $240,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 0.2 %

Shares of NYSE BLK opened at $814.82 on Thursday. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The company has a market cap of $121.36 billion, a P/E ratio of 22.32, a P/E/G ratio of 1.80 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $808.21 and a 200 day moving average price of $747.08.

BlackRock (NYSE:BLKGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $0.82. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.93 EPS. Research analysts anticipate that BlackRock, Inc. will post 40.23 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were given a $5.10 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.00. This represents a $20.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Wednesday, March 6th. BlackRock’s dividend payout ratio is presently 55.88%.

Insider Buying and Selling at BlackRock

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock valued at $71,864,028 in the last ninety days. Insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group lifted their target price on shares of BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, BNP Paribas raised shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective for the company in a research note on Tuesday, December 12th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $789.67.

Read Our Latest Analysis on BlackRock

About BlackRock

(Free Report)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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