2,145 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,145 shares of the asset manager’s stock, valued at approximately $2,199,000. BlackRock accounts for 1.5% of Bank of Jackson Hole Trust’s holdings, making the stock its 15th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Vest Financial LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $766,000. Prio Wealth Limited Partnership bought a new stake in BlackRock during the 3rd quarter worth approximately $229,000. Community Financial Services Group LLC increased its holdings in BlackRock by 1.7% during the 3rd quarter. Community Financial Services Group LLC now owns 4,768 shares of the asset manager’s stock worth $4,527,000 after purchasing an additional 79 shares in the last quarter. Waterway Wealth Management LLC increased its holdings in BlackRock by 8.0% during the 3rd quarter. Waterway Wealth Management LLC now owns 949 shares of the asset manager’s stock worth $901,000 after purchasing an additional 70 shares in the last quarter. Finally, Ledyard National Bank increased its holdings in BlackRock by 14.0% during the 3rd quarter. Ledyard National Bank now owns 1,108 shares of the asset manager’s stock worth $1,052,000 after purchasing an additional 136 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of NYSE BLK opened at $976.84 on Wednesday. The stock has a fifty day simple moving average of $1,016.16 and a two-hundred day simple moving average of $975.86. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The firm has a market cap of $151.29 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the company earned $9.66 earnings per share. BlackRock’s revenue was up 22.6% compared to the same quarter last year. Analysts anticipate that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.13%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is currently 48.57%.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the sale, the director now owns 68,433 shares in the company, valued at $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock worth $115,163,141 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Wells Fargo & Company upped their target price on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Citigroup upped their target price on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

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.