Fulton Bank N.A. Has $851,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Fulton Bank N.A. grew its stake in BlackRock, Inc. (NYSE:BLKGet Rating) by 11.2% during the second quarter, HoldingsChannel.com reports. The firm owned 1,397 shares of the asset manager’s stock after buying an additional 141 shares during the period. Fulton Bank N.A.’s holdings in BlackRock were worth $851,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Western Pacific Wealth Management LP bought a new stake in shares of BlackRock in the 4th quarter valued at $27,000. McIlrath & Eck LLC increased its position in shares of BlackRock by 67.9% in the 1st quarter. McIlrath & Eck LLC now owns 47 shares of the asset manager’s stock valued at $36,000 after buying an additional 19 shares in the last quarter. Disciplined Investments LLC increased its position in shares of BlackRock by 45.5% in the 1st quarter. Disciplined Investments LLC now owns 48 shares of the asset manager’s stock valued at $37,000 after buying an additional 15 shares in the last quarter. Covestor Ltd bought a new stake in shares of BlackRock in the 4th quarter valued at $38,000. Finally, American National Bank increased its position in shares of BlackRock by 103.8% in the 1st quarter. American National Bank now owns 53 shares of the asset manager’s stock valued at $41,000 after buying an additional 27 shares in the last quarter. Institutional investors own 76.88% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $626.74 on Friday. The stock has a market capitalization of $94.49 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.31 and a beta of 1.23. The business has a 50-day moving average of $670.71 and a 200-day moving average of $668.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.64 and a quick ratio of 3.64. BlackRock, Inc. has a fifty-two week low of $575.60 and a fifty-two week high of $973.16.

BlackRock (NYSE:BLKGet Rating) last issued its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.94 by ($0.58). BlackRock had a net margin of 30.12% and a return on equity of 15.74%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the business posted $10.03 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock, Inc. will post 33.92 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be paid a $4.88 dividend. This is an increase from BlackRock’s previous dividend of $2.29. The ex-dividend date is Tuesday, September 6th. BlackRock’s dividend payout ratio (DPR) is 51.46%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BLK. UBS Group lowered their price objective on shares of BlackRock from $825.00 to $718.00 in a research report on Monday, July 11th. The Goldman Sachs Group lowered their target price on BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $720.00 to $860.00 and gave the stock a “buy” rating in a report on Friday, August 12th. JPMorgan Chase & Co. lowered their target price on BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Finally, Keefe, Bruyette & Woods lowered their target price on BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a report on Tuesday, June 28th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $804.46.

Insider Activity at BlackRock

In related news, President Robert Kapito sold 37,588 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the sale, the president now directly owns 226,680 shares in the company, valued at approximately $143,461,238.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Robert Kapito sold 37,588 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the sale, the president now directly owns 226,680 shares in the company, valued at approximately $143,461,238.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 44,500 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the sale, the chief executive officer now owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,448 shares of company stock worth $55,259,953. Insiders own 1.06% of the company’s stock.

BlackRock Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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