Toronto Dominion Bank Buys 1,298 Shares of BlackRock, Inc. (NYSE:BLK)

Toronto Dominion Bank increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,028 shares of the asset manager’s stock after acquiring an additional 1,298 shares during the quarter. Toronto Dominion Bank’s holdings in BlackRock were worth $59,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Abacus Planning Group Inc. boosted its stake in BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after buying an additional 13 shares in the last quarter. Knuff & Co LLC boosted its stake in BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after buying an additional 13 shares in the last quarter. Spreng Capital Management Inc. boosted its stake in BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after buying an additional 14 shares in the last quarter. Accurate Wealth Management LLC boosted its stake in BlackRock by 1.4% during the first quarter. Accurate Wealth Management LLC now owns 1,007 shares of the asset manager’s stock worth $840,000 after buying an additional 14 shares in the last quarter. Finally, Emerald Advisors LLC boosted its stake in BlackRock by 1.3% during the first quarter. Emerald Advisors LLC now owns 1,062 shares of the asset manager’s stock worth $885,000 after buying an additional 14 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

NYSE BLK traded up $19.66 on Friday, hitting $856.20. 555,760 shares of the company were exchanged, compared to its average volume of 606,970. The firm has a 50 day moving average of $795.87 and a two-hundred day moving average of $795.64. The company has a market cap of $127.23 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.84 and a beta of 1.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $857.65.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $9.28 EPS. On average, equities analysts predict that BlackRock, Inc. will post 41.23 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.38%. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Argus boosted their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. TD Cowen reduced their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. UBS Group reduced their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup boosted their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $872.29.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. In the last three months, insiders sold 66,978 shares of company stock valued at $54,692,570. 0.90% of the stock is currently owned by insiders.

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.