FineMark National Bank & Trust Acquires 489 Shares of BlackRock, Inc. (BLK)

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FineMark National Bank & Trust lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 1.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,192 shares of the asset manager’s stock after acquiring an additional 489 shares during the quarter. BlackRock accounts for about 0.8% of FineMark National Bank & Trust’s holdings, making the stock its 27th biggest holding. FineMark National Bank & Trust’s holdings in BlackRock were worth $13,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Destination Wealth Management lifted its holdings in shares of BlackRock by 1.7% in the 1st quarter. Destination Wealth Management now owns 1,253 shares of the asset manager’s stock worth $535,000 after acquiring an additional 21 shares during the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in shares of BlackRock by 11.6% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock worth $94,000 after acquiring an additional 22 shares during the last quarter. Somerset Trust Co lifted its holdings in shares of BlackRock by 0.6% in the 1st quarter. Somerset Trust Co now owns 3,678 shares of the asset manager’s stock worth $1,572,000 after acquiring an additional 23 shares during the last quarter. SlateStone Wealth LLC raised its holdings in BlackRock by 0.6% during the 1st quarter. SlateStone Wealth LLC now owns 4,167 shares of the asset manager’s stock valued at $1,781,000 after buying an additional 23 shares during the last quarter. Finally, First Manhattan Co. raised its holdings in BlackRock by 3.5% during the 1st quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock valued at $302,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

NYSE:BLK opened at $441.56 on Monday. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $557.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. The firm has a market cap of $68.23 billion, a P/E ratio of 16.40, a PEG ratio of 1.59 and a beta of 1.44.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.13 by $0.48. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.48 EPS. Equities research analysts expect that BlackRock, Inc. will post 27.78 EPS for the current fiscal year.

A number of equities research analysts recently commented on the stock. Wells Fargo & Co upped their price target on shares of BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a report on Wednesday, April 17th. Barclays upped their price target on shares of BlackRock from $490.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Morgan Stanley upped their price target on shares of BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Citigroup upped their price target on shares of BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $491.00 price target for the company in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $509.38.

In other BlackRock news, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gary Shedlin sold 2,750 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total transaction of $1,286,972.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,658 shares of company stock worth $18,864,994. Insiders own 1.42% of the company’s stock.

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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