Security National Bank Invests $6.66 Million in BlackRock (NYSE:BLK)

Security National Bank acquired a new stake in shares of BlackRock (NYSE:BLK) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 7,035 shares of the asset manager’s stock, valued at approximately $6,658,000. BlackRock accounts for approximately 1.3% of Security National Bank’s investment portfolio, making the stock its 18th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Mascoma Wealth Management LLC grew its position in shares of BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager’s stock worth $130,000 after buying an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in BlackRock by 2.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager’s stock valued at $542,000 after acquiring an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in BlackRock by 4.5% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock valued at $263,000 after acquiring an additional 11 shares in the last quarter. Convergence Financial LLC increased its position in shares of BlackRock by 1.6% during the fourth quarter. Convergence Financial LLC now owns 783 shares of the asset manager’s stock worth $802,000 after purchasing an additional 12 shares in the last quarter. Finally, Truvestments Capital LLC increased its position in shares of BlackRock by 10.8% during the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager’s stock worth $126,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BLK. TD Cowen dropped their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Barclays boosted their price target on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, April 14th. Bank of America cut their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. UBS Group lowered their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Argus upped their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,096.31.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,019.43 on Thursday. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,084.22. The company’s 50 day moving average is $955.81 and its 200 day moving average is $969.60. The company has a market cap of $157.94 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 3.05 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $9.81 earnings per share. On average, sell-side analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.04%. BlackRock’s dividend payout ratio (DPR) is presently 50.63%.

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.