Bremer Bank National Association Has $553,000 Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Bremer Bank National Association raised its holdings in BlackRock, Inc. (NYSE:BLK) by 7.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 703 shares of the asset manager’s stock after buying an additional 46 shares during the quarter. Bremer Bank National Association’s holdings in BlackRock were worth $553,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BLK. Norges Bank bought a new stake in shares of BlackRock in the 4th quarter valued at approximately $1,812,920,000. Capital World Investors grew its position in BlackRock by 57.3% in the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after acquiring an additional 1,279,952 shares during the period. Capital Research Global Investors raised its stake in BlackRock by 23.7% during the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after acquiring an additional 749,654 shares in the last quarter. Mayflower Financial Advisors LLC lifted its holdings in shares of BlackRock by 24,171.5% during the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after acquiring an additional 414,300 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders sold 88,959 shares of company stock valued at $73,660,507 in the last quarter. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Cowen cut their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Morgan Stanley reduced their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Keefe, Bruyette & Woods raised their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Argus boosted their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Evercore ISI raised their target price on BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $872.29.

BlackRock Trading Up 0.3 %

Shares of NYSE:BLK traded up $2.93 during trading on Wednesday, hitting $857.52. 321,362 shares of the company’s stock were exchanged, compared to its average volume of 603,645. The firm has a 50-day moving average price of $812.97 and a two-hundred day moving average price of $800.72. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $885.10. The firm has a market cap of $127.43 billion, a P/E ratio of 21.79, a PEG ratio of 1.92 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 (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company earned $9.28 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

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

BlackRock Company Profile

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.