Intrust Bank NA Has $1.35 Million Position in BlackRock, Inc. (NYSE:BLK)

Intrust Bank NA raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 34.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,321 shares of the asset manager’s stock after buying an additional 338 shares during the period. Intrust Bank NA’s holdings in BlackRock were worth $1,354,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BLK. IAG Wealth Partners LLC bought a new stake in BlackRock in the 4th quarter worth about $26,000. FSA Wealth Management LLC bought a new stake in shares of BlackRock in the 3rd quarter worth approximately $26,000. Collier Financial bought a new stake in shares of BlackRock in the fourth quarter valued at $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock during the 4th quarter worth $33,000. Finally, Atwood & Palmer Inc. purchased a new stake in BlackRock in the 4th quarter worth about $36,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group boosted their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Barclays decreased their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Trading Down 2.1 %

Shares of BlackRock stock opened at $947.48 on Friday. The company has a 50 day simple moving average of $978.66 and a two-hundred day simple moving average of $990.69. The firm has a market cap of $147.10 billion, a PE ratio of 22.56, a PEG ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business earned $9.66 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. Analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a dividend of $5.21 per share. The ex-dividend date was Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.20%. BlackRock’s dividend payout ratio is 49.62%.

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.