284 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 284 shares of the asset manager’s stock, valued at approximately $269,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in BlackRock by 0.8% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after acquiring an additional 10 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in BlackRock by 2.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock valued at $377,000 after purchasing an additional 10 shares in the last quarter. Mascoma Wealth Management LLC lifted its holdings in shares of BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager’s stock worth $130,000 after acquiring an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of BlackRock by 2.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager’s stock worth $542,000 after buying an additional 11 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in BlackRock by 4.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 11 shares during the period. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Up 0.5%

BlackRock stock opened at $990.26 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22. The company 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 stock’s 50 day moving average price is $925.28 and its 200 day moving average price is $973.18.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) 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 business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the business earned $9.81 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research note on Saturday, May 24th. TD Cowen decreased their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price objective on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley decreased their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Finally, Barclays boosted their target price 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,082.46.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.98% of the company’s stock.

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.