Webster Bank N. A. Has $10.96 Million Stake in BlackRock, Inc. (NYSE:BLK)

Webster Bank N. A. decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,148 shares of the asset manager’s stock after selling 219 shares during the quarter. BlackRock accounts for approximately 1.2% of Webster Bank N. A.’s investment portfolio, making the stock its 19th largest position. Webster Bank N. A.’s holdings in BlackRock were worth $10,961,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock during the fourth quarter worth about $27,000. Private Wealth Management Group LLC bought a new stake in shares of BlackRock during the fourth quarter worth about $28,000. Pineridge Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA grew its holdings in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of BlackRock during the fourth quarter worth about $32,000. 80.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley upped 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. boosted their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $845.42.

Insider Transactions at BlackRock

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

BlackRock Stock Up 0.8 %

NYSE BLK traded up $6.19 on Friday, reaching $787.32. The company had a trading volume of 769,459 shares, compared to its average volume of 564,991. The stock has a market capitalization of $117.00 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.61 and a beta of 1.34. The company’s fifty day moving average is $779.33 and its 200 day moving average is $792.66. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.93 EPS. Sell-side analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

About BlackRock

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.