Fulton Bank N.A. Sells 59 Shares of BlackRock, Inc. (NYSE:BLK)

Fulton Bank N.A. lessened its position in BlackRock, Inc. (NYSE:BLKFree Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,801 shares of the asset manager’s stock after selling 59 shares during the period. Fulton Bank N.A.’s holdings in BlackRock were worth $2,335,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in BlackRock during the fourth quarter worth approximately $1,812,920,000. Capital World Investors lifted its holdings in BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after acquiring an additional 1,279,952 shares during the period. Capital Research Global Investors increased its position in BlackRock by 23.7% in the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after buying an additional 749,654 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of BlackRock by 77,524.5% in the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after purchasing an additional 641,128 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in BlackRock by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after buying an additional 307,516 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.1 %

Shares of NYSE BLK traded down $0.82 during trading hours on Thursday, reaching $782.83. The stock had a trading volume of 496,796 shares, compared to its average volume of 606,992. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $116.33 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 1.62 and a beta of 1.34. The business’s fifty day moving average price is $775.11 and its two-hundred day moving average price is $790.99. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

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

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Friday, June 7th. BlackRock’s payout ratio is presently 51.84%.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BLK. Morgan Stanley increased their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group raised their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $845.42.

Read Our Latest Analysis on BLK

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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