Security National Bank Increases Stake in BlackRock, Inc. (NYSE:BLK)

Security National Bank boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,884 shares of the asset manager’s stock after acquiring an additional 74 shares during the quarter. BlackRock accounts for 1.5% of Security National Bank’s holdings, making the stock its 26th largest position. Security National Bank’s holdings in BlackRock were worth $5,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. McCarthy Asset Management Inc. purchased a new position in BlackRock during the fourth quarter valued at approximately $25,000. Sittner & Nelson LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $25,000. Birch Capital Management LLC purchased a new stake in shares of BlackRock in the first quarter valued at approximately $26,000. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $35,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $36,000. Institutional investors own 79.10% of the company’s stock.

In other news, Director Mark Mccombe sold 1,476 shares of the company’s stock in a transaction on Tuesday, February 2nd. The stock was sold at an average price of $726.09, for a total value of $1,071,708.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 2,800 shares of the company’s stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $730.97, for a total value of $2,046,716.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,418 shares of company stock worth $29,492,515. Corporate insiders own 1.42% of the company’s stock.

BLK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $835.00 to $838.00 and gave the company a “buy” rating in a research report on Friday, January 15th. BMO Capital Markets boosted their price objective on BlackRock from $709.00 to $715.00 and gave the company a “market perform” rating in a research report on Friday, January 15th. Barclays boosted their price objective on BlackRock from $800.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, January 15th. Morgan Stanley boosted their price objective on BlackRock from $890.00 to $924.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on BlackRock from $875.00 to $890.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $740.09.

NYSE BLK traded up $7.71 on Thursday, reaching $795.71. 6,513 shares of the company were exchanged, compared to its average volume of 707,522. The business’s fifty day moving average price is $725.50 and its 200 day moving average price is $688.58. The stock has a market capitalization of $121.45 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a fifty-two week low of $440.00 and a fifty-two week high of $790.22.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 13th. The asset manager reported $10.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.14 by $1.04. BlackRock had a return on equity of 15.74% and a net margin of 30.43%. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the company posted $8.34 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post 36.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 23rd. Stockholders of record on Friday, March 5th were paid a $4.13 dividend. This represents a $16.52 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, March 4th. This is a positive change from BlackRock’s previous quarterly dividend of $3.63. BlackRock’s dividend payout ratio is 48.85%.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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