Burke & Herbert Bank & Trust Co. Has $634,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Burke & Herbert Bank & Trust Co. decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 917 shares of the asset manager’s stock after selling 61 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in BlackRock were worth $634,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Empower Advisory Group LLC bought a new stake in BlackRock in the 1st quarter valued at $308,000. Old North State Trust LLC increased its holdings in shares of BlackRock by 5,876.2% in the first quarter. Old North State Trust LLC now owns 10,040 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 9,872 shares during the last quarter. Duality Advisers LP increased its holdings in shares of BlackRock by 3.8% in the first quarter. Duality Advisers LP now owns 2,496 shares of the asset manager’s stock valued at $1,670,000 after purchasing an additional 92 shares during the last quarter. Marcum Wealth LLC increased its holdings in shares of BlackRock by 19.6% in the first quarter. Marcum Wealth LLC now owns 1,019 shares of the asset manager’s stock valued at $682,000 after purchasing an additional 167 shares during the last quarter. Finally, Resources Investment Advisors LLC. lifted its holdings in BlackRock by 12.5% during the 1st quarter. Resources Investment Advisors LLC. now owns 1,696 shares of the asset manager’s stock worth $1,135,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BLK shares. StockNews.com started coverage on BlackRock in a report on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company boosted their price target on BlackRock from $780.00 to $820.00 in a research note on Monday, July 17th. Morgan Stanley boosted their price target on BlackRock from $881.00 to $888.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $780.00 to $785.00 in a research note on Monday, July 17th. Finally, Keefe, Bruyette & Woods raised BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the company from $770.00 to $835.00 in a report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $767.69.

BlackRock Trading Up 0.1 %

Shares of NYSE BLK traded up $0.36 during midday trading on Monday, reaching $697.77. The stock had a trading volume of 166,959 shares, compared to its average volume of 638,746. BlackRock, Inc. has a twelve month low of $503.12 and a twelve month high of $785.65. The firm has a market cap of $104.18 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.98 and a beta of 1.29. The company’s 50 day moving average price is $706.56 and its 200 day moving average price is $681.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.21 and a current ratio of 4.21.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, July 14th. The asset manager reported $9.28 EPS for the quarter, beating the consensus estimate of $8.52 by $0.76. BlackRock had a return on equity of 14.29% and a net margin of 29.90%. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the business earned $7.36 earnings per share. BlackRock’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that BlackRock, Inc. will post 35.48 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $5.00 dividend. The ex-dividend date is Thursday, September 7th. This represents a $20.00 annualized dividend and a dividend yield of 2.87%. BlackRock’s payout ratio is 58.41%.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 20,200 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total transaction of $14,989,208.00. Following the completion of the transaction, the chief executive officer now directly owns 464,125 shares in the company, valued at approximately $344,399,315. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mark Wiedman sold 2,079 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $733.82, for a total value of $1,525,611.78. Following the completion of the transaction, the director now directly owns 6,160 shares in the company, valued at approximately $4,520,331.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 20,200 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $742.04, for a total value of $14,989,208.00. Following the completion of the transaction, the chief executive officer now owns 464,125 shares of the company’s stock, valued at $344,399,315. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

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.