Washington Trust Bank Increases Stake in BlackRock, Inc. (BLK)

Washington Trust Bank increased its position in BlackRock, Inc. (NYSE:BLK) by 62.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 549 shares of the asset manager’s stock after buying an additional 212 shares during the period. Washington Trust Bank’s holdings in BlackRock were worth $211,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Alpha Windward LLC boosted its stake in BlackRock by 0.6% in the first quarter. Alpha Windward LLC now owns 487 shares of the asset manager’s stock worth $187,000 after buying an additional 3 shares in the last quarter. Usca Ria LLC boosted its stake in BlackRock by 0.4% in the third quarter. Usca Ria LLC now owns 1,634 shares of the asset manager’s stock worth $592,000 after buying an additional 7 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in BlackRock by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 540 shares of the asset manager’s stock worth $187,000 after buying an additional 10 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in BlackRock by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,980 shares of the asset manager’s stock worth $1,443,000 after buying an additional 10 shares in the last quarter. Finally, FTB Advisors Inc. boosted its stake in BlackRock by 1.7% in the third quarter. FTB Advisors Inc. now owns 800 shares of the asset manager’s stock worth $287,000 after buying an additional 13 shares in the last quarter. 80.82% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

BlackRock, Inc. (NYSE:BLK) traded up 1.25% on Friday, reaching $393.32. The company’s stock had a trading volume of 682,234 shares. The stock’s 50 day moving average price is $383.97 and its 200 day moving average price is $380.26. The company has a market cap of $64.06 billion, a P/E ratio of 19.32 and a beta of 1.72. BlackRock, Inc. has a 12 month low of $317.60 and a 12 month high of $399.46.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, April 19th. The asset manager reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.31. BlackRock had a net margin of 28.44% and a return on equity of 11.20%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the company earned $4.25 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post $21.65 earnings per share for the current year.

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A number of research firms recently weighed in on BLK. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 price target on shares of BlackRock in a report on Wednesday. Deutsche Bank AG reissued a “buy” rating and issued a $441.00 target price (down from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. Morgan Stanley reissued a “buy” rating on shares of BlackRock in a research note on Saturday, March 18th. JPMorgan Chase & Co. reissued a “buy” rating on shares of BlackRock in a research note on Wednesday, March 8th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $464.00 target price on shares of BlackRock in a research note on Thursday, February 9th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $410.70.

BlackRock Company Profile

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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