Bangor Savings Bank Takes $1.48 Million Position in BlackRock, Inc. (NYSE:BLK)

Bangor Savings Bank bought a new stake in BlackRock, Inc. (NYSE:BLK) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,566 shares of the asset manager’s stock, valued at approximately $1,482,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock valued at $13,712,493,000 after purchasing an additional 68,405 shares during the last quarter. Capital World Investors raised its holdings in shares of BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock valued at $4,200,450,000 after buying an additional 93,844 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Geode Capital Management LLC raised its stake in BlackRock by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock valued at $3,072,787,000 after acquiring an additional 190,188 shares during the last quarter. Finally, FMR LLC raised its stake in BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock valued at $2,450,475,000 after acquiring an additional 26,485 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.5%

Shares of BlackRock stock opened at $990.26 on Friday. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The stock has a market cap of $153.42 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a 50-day moving average of $925.28 and a two-hundred day moving average of $973.18. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the business posted $9.81 EPS. BlackRock’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLK. Morgan Stanley cut their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Barclays increased their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,082.46.

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.