Glenview Trust co Takes $13.10 Million Position in BlackRock $BLK

Glenview Trust co purchased a new stake in shares of BlackRock (NYSE:BLK) during the 1st quarter, Holdings Channel.com reports. The fund purchased 13,835 shares of the asset manager’s stock, valued at approximately $13,095,000.

Several other hedge funds have also modified their holdings of the stock. Game Plan Financial Advisors LLC grew its stake in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the last quarter. SCS Capital Management LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $656,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after purchasing an additional 111,694 shares during the last quarter. Legacy Advisory Services LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $602,000. Finally, Woodline Partners LP boosted its stake in BlackRock by 40.7% in the first quarter. Woodline Partners LP now owns 12,300 shares of the asset manager’s stock valued at $11,642,000 after acquiring an additional 3,557 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a report on Saturday, May 24th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Wells Fargo & Company lowered their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,154.07.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by insiders.

BlackRock Trading Up 0.2%

Shares of NYSE BLK opened at $1,106.62 on Wednesday. The company’s fifty day moving average is $1,113.10 and its 200-day moving average is $1,003.92. The stock has a market cap of $171.36 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 2.11 and a beta of 1.45. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $10.36 earnings per share. Equities research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s payout ratio is currently 50.39%.

About BlackRock

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.