NBT Bank N A NY Acquires 292 Shares of BlackRock, Inc. (NYSE:BLK)

NBT Bank N A NY increased its stake in BlackRock, Inc. (NYSE:BLK) by 12.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,661 shares of the asset manager’s stock after purchasing an additional 292 shares during the period. NBT Bank N A NY’s holdings in BlackRock were worth $2,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in BlackRock during the first quarter worth about $27,000. Private Wealth Management Group LLC bought a new stake in BlackRock in the 4th quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new stake in BlackRock in the fourth quarter worth approximately $28,000. Knuff & Co LLC grew its position in BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares during the last quarter. Finally, Northwest Financial Advisors purchased a new position in shares of BlackRock during the fourth quarter worth approximately $32,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.8 %

Shares of NYSE BLK traded up $6.94 during midday trading on Friday, hitting $901.81. 478,238 shares of the company traded hands, compared to its average volume of 590,117. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $903.46. The stock has a 50-day moving average price of $839.20 and a 200 day moving average price of $808.52. The firm has a market cap of $134.01 billion, a P/E ratio of 22.92, a P/E/G ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.28 EPS. As a group, analysts expect that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, September 9th. BlackRock’s payout ratio is currently 51.84%.

Insiders Place Their Bets

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on BLK. Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Evercore ISI raised their price objective on BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Barclays started coverage on BlackRock in a research note on Tuesday. They issued an “overweight” rating and a $985.00 target price for the company. Argus raised their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, UBS Group lowered their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $881.47.

BlackRock 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.