Riverview Trust Co Has $964,000 Stake in BlackRock, Inc. (NYSE:BLK)

Riverview Trust Co increased its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 3.1% during the first quarter, HoldingsChannel.com reports. The fund owned 1,156 shares of the asset manager’s stock after purchasing an additional 35 shares during the period. Riverview Trust Co’s holdings in BlackRock were worth $964,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Abacus Planning Group Inc. lifted its position in shares of BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after acquiring an additional 13 shares during the period. Knuff & Co LLC lifted its position in shares of BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after acquiring an additional 13 shares during the period. Everhart Financial Group Inc. lifted its position in shares of BlackRock by 3.2% during the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after buying an additional 14 shares during the period. Spreng Capital Management Inc. raised its position in BlackRock by 1.1% in the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after purchasing an additional 14 shares during the last quarter. Finally, Magellan Asset Management Ltd raised its position in BlackRock by 3.6% in the 4th quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock valued at $328,000 after purchasing an additional 14 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity at BlackRock

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

Analyst Ratings Changes

Several brokerages have issued reports on BLK. Morgan Stanley lifted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. upped their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Three investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $845.42.

View Our Latest Analysis on BLK

BlackRock Trading Down 1.2 %

Shares of BlackRock stock traded down $9.79 during trading hours on Tuesday, hitting $789.16. The company’s stock had a trading volume of 117,750 shares, compared to its average volume of 604,498. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The stock has a 50 day moving average of $776.33 and a 200 day moving average of $792.19. The company has a market capitalization of $117.27 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.93 earnings per share. Analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were given a dividend of $5.10 per share. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.59%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

BlackRock Company Profile

(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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