First National Bank of Omaha Purchases New Position in BlackRock $BLK

First National Bank of Omaha acquired a new stake in BlackRock (NYSE:BLKFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,965 shares of the asset manager’s stock, valued at approximately $16,281,000. BlackRock makes up about 1.0% of First National Bank of Omaha’s portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pacifica Partners Inc. grew its stake in BlackRock by 450.0% during the 3rd quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock worth $25,000 after buying an additional 18 shares during the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of BlackRock by 1,000.0% in the third quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 20 shares during the period. Traub Capital Management LLC purchased a new position in shares of BlackRock during the second quarter worth approximately $28,000. Whipplewood Advisors LLC increased its holdings in shares of BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 15 shares during the period. Finally, Creekmur Asset Management LLC increased its holdings in shares of BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 14 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $1,244.00 to $1,267.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Wall Street Zen raised shares of BlackRock from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Morgan Stanley raised their price target on BlackRock from $1,514.00 to $1,550.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. BNP Paribas Exane boosted their price target on BlackRock from $1,290.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Finally, UBS Group set a $1,280.00 price objective on BlackRock in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,311.11.

Get Our Latest Analysis on BlackRock

BlackRock Trading Up 0.3%

NYSE BLK opened at $1,074.80 on Wednesday. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $166.76 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.34 and a beta of 1.47. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The firm has a 50-day moving average price of $1,093.81 and a 200 day moving average price of $1,105.31.

BlackRock (NYSE:BLKGet Free Report) last announced its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, beating analysts’ consensus estimates of $12.55 by $0.61. BlackRock had a return on equity of 15.14% and a net margin of 22.93%.The company had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.80 billion. During the same quarter in the previous year, the company earned $11.93 EPS. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. Equities research analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be issued a dividend of $5.73 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.21. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. BlackRock’s dividend payout ratio is currently 58.84%.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

Insiders Place Their Bets

In other BlackRock news, Director Stephen Cohen sold 2,179 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,073.87, for a total transaction of $2,339,962.73. Following the sale, the director directly owned 6,543 shares in the company, valued at approximately $7,026,331.41. The trade was a 24.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 20,000 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the completion of the transaction, the director owned 61,894 shares of the company’s stock, valued at $69,630,750. This represents a 24.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 109,967 shares of company stock worth $122,487,380. 1.98% of the stock is owned by insiders.

About BlackRock

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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