UMB Bank n.a. Purchases 1,851 Shares of BlackRock, Inc. (NYSE:BLK)

UMB Bank n.a. raised its position in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,789 shares of the asset manager’s stock after acquiring an additional 1,851 shares during the period. UMB Bank n.a.’s holdings in BlackRock were worth $29,865,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in shares of BlackRock in the first quarter valued at approximately $115,000. United Bank raised its position in shares of BlackRock by 17.1% in the first quarter. United Bank now owns 1,287 shares of the asset manager’s stock valued at $983,000 after buying an additional 188 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of BlackRock by 2.6% in the first quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock valued at $1,512,000 after buying an additional 51 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of BlackRock by 35.4% in the first quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock valued at $783,000 after buying an additional 268 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in BlackRock by 11.7% during the first quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock valued at $1,110,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the sale, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock valued at $71,864,028 in the last three months. Company insiders own 1.06% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $814.82 on Thursday. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $121.36 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 1.80 and a beta of 1.37. The firm’s fifty day simple moving average is $808.21 and its two-hundred day simple moving average is $747.08. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $0.82. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm posted $8.93 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 40.23 EPS for the current year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Thursday, March 7th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $5.00. BlackRock’s dividend payout ratio is currently 55.88%.

Wall Street Analyst Weigh In

Several brokerages have commented on BLK. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group upped their price target on shares of BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. BNP Paribas upgraded shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target for the company in a report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $789.67.

Read Our Latest Stock Report on BlackRock

BlackRock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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