Security National Bank Boosts Holdings in BlackRock, Inc. (NYSE:BLK)

Security National Bank grew its position in BlackRock, Inc. (NYSE:BLK) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,491 shares of the asset manager’s stock after acquiring an additional 138 shares during the period. BlackRock comprises approximately 0.9% of Security National Bank’s investment portfolio, making the stock its 26th biggest position. Security National Bank’s holdings in BlackRock were worth $6,245,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

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

BlackRock Trading Down 0.6 %

BlackRock stock traded down $4.67 during trading hours on Wednesday, reaching $789.72. 237,791 shares of the company’s stock traded hands, compared to its average volume of 603,756. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The firm has a market capitalization of $117.35 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.64 and a beta of 1.34. The firm’s 50 day moving average is $777.24 and its 200-day moving average is $792.54.

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

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were given a $5.10 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.58%. BlackRock’s payout ratio is presently 51.84%.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the company’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 sale, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

BlackRock 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.