Bremer Bank National Association Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

Bremer Bank National Association boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 7.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 703 shares of the asset manager’s stock after buying an additional 46 shares during the period. Bremer Bank National Association’s holdings in BlackRock were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tennessee Valley Asset Management Partners purchased a new stake in BlackRock during the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in BlackRock during the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC bought a new stake in BlackRock during the 4th quarter worth approximately $28,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in BlackRock in the 4th quarter worth approximately $32,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BLK. Deutsche Bank Aktiengesellschaft decreased their price target on shares of BlackRock from $924.00 to $912.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Citigroup boosted their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Argus boosted their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen lowered their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $872.29.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the business’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 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 the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated 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 transaction, 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 is available through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,959 shares of company stock valued at $73,660,507. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Up 0.3 %

Shares of BlackRock stock traded up $2.93 on Wednesday, hitting $857.52. The stock had a trading volume of 321,362 shares, compared to its average volume of 603,645. 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, Inc. has a one year low of $596.18 and a one year high of $885.10. The stock’s 50-day simple moving average is $812.97 and its two-hundred day simple moving average is $800.72. The stock has a market cap of $127.43 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm posted $9.28 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.23 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

BlackRock Company 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.