Riverview Trust Co Purchases 35 Shares of BlackRock, Inc. (NYSE:BLK)

Riverview Trust Co boosted its position in BlackRock, Inc. (NYSE:BLK) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,156 shares of the asset manager’s stock after acquiring an additional 35 shares during the period. Riverview Trust Co’s holdings in BlackRock were worth $964,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Abacus Planning Group Inc. raised its stake in shares of BlackRock by 4.0% in the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares during the period. Knuff & Co LLC raised its stake in shares of BlackRock by 48.1% in the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares during the period. Everhart Financial Group Inc. raised its stake in shares of BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares during the period. Spreng Capital Management Inc. raised its stake in shares of BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 14 shares during the period. Finally, Magellan Asset Management Ltd raised its stake in shares of BlackRock by 3.6% in the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock valued at $328,000 after acquiring an additional 14 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 1.2 %

BlackRock stock traded down $9.79 during midday trading on Tuesday, hitting $789.16. 117,750 shares of the company’s stock were exchanged, compared to its average volume of 604,498. 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 12 month low of $596.18 and a 12 month high of $845.00. The firm has a 50-day moving average of $776.33 and a two-hundred day moving average of $792.19. The company has a market cap of $117.27 billion, a PE ratio of 20.14, a P/E/G ratio of 1.63 and a beta of 1.34.

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

BlackRock Announces Dividend

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

Insider Activity

In other news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $5,151,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were 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 owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the business’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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley raised their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Three research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

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.