FineMark National Bank & Trust Acquires 19 Shares of BlackRock, Inc. (NYSE:BLK)

FineMark National Bank & Trust boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,445 shares of the asset manager’s stock after acquiring an additional 19 shares during the period. FineMark National Bank & Trust’s holdings in BlackRock were worth $18,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Stablepoint Partners LLC lifted its holdings in BlackRock by 8.5% during the second quarter. Stablepoint Partners LLC now owns 1,321 shares of the asset manager’s stock worth $1,139,000 after acquiring an additional 104 shares in the last quarter. Belpointe Asset Management LLC raised its stake in shares of BlackRock by 3.2% in the 2nd quarter. Belpointe Asset Management LLC now owns 1,921 shares of the asset manager’s stock valued at $1,513,000 after purchasing an additional 59 shares during the period. Community Bank & Trust Waco Texas raised its stake in shares of BlackRock by 0.9% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 2,149 shares of the asset manager’s stock valued at $1,692,000 after purchasing an additional 19 shares during the period. Larson Financial Group LLC raised its stake in shares of BlackRock by 13.4% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the asset manager’s stock valued at $340,000 after purchasing an additional 51 shares during the period. Finally, Foundations Investment Advisors LLC raised its stake in shares of BlackRock by 6.3% in the 2nd quarter. Foundations Investment Advisors LLC now owns 907 shares of the asset manager’s stock valued at $714,000 after purchasing an additional 54 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Trading Down 0.0 %

BlackRock stock opened at $886.41 on Thursday. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $903.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a market capitalization of $131.72 billion, a P/E ratio of 22.53, a PEG ratio of 1.97 and a beta of 1.32. The stock has a 50-day simple moving average of $845.08 and a 200 day simple moving average of $810.81.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the company posted $9.28 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is presently 51.84%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BLK shares. Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley lowered their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Barclays assumed coverage on BlackRock in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $985.00 target price on the stock. UBS Group lowered their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $883.13.

Insider Transactions at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 over the last quarter. Company insiders own 0.90% of the company’s stock.

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.