Webster Bank N. A. Trims Holdings in BlackRock, Inc. (NYSE:BLK)

Webster Bank N. A. trimmed its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,367 shares of the asset manager’s stock after selling 348 shares during the period. BlackRock comprises 1.3% of Webster Bank N. A.’s holdings, making the stock its 15th largest position. Webster Bank N. A.’s holdings in BlackRock were worth $10,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Norges Bank acquired a new stake in shares of BlackRock in the fourth quarter worth approximately $1,037,009,000. Moneta Group Investment Advisors LLC lifted its position in BlackRock by 104,159.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager’s stock worth $494,269,000 after buying an additional 696,830 shares in the last quarter. FMR LLC lifted its position in BlackRock by 22.0% during the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after buying an additional 379,631 shares in the last quarter. Invesco Ltd. lifted its position in BlackRock by 84.4% during the third quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after buying an additional 340,792 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in BlackRock by 15.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock worth $1,777,933,000 after buying an additional 310,256 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

View Our Latest Report on BLK

Insider Buying and Selling

In other news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock valued at $71,864,028 in the last three months. 1.06% of the stock is owned by corporate insiders.

BlackRock Price Performance

BLK stock opened at $814.82 on Thursday. 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 company has a market capitalization of $121.36 billion, a PE ratio of 22.32, a P/E/G ratio of 1.80 and a beta of 1.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The business’s fifty day moving average price is $808.21 and its 200 day moving average price is $747.08.

BlackRock (NYSE:BLKGet Free Report) last released its earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, topping the consensus estimate of $8.84 by $0.82. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the firm posted $8.93 EPS. BlackRock’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that BlackRock, Inc. will post 40.23 EPS for the current year.

BlackRock Increases Dividend

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

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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