Essex Savings Bank Has $482,000 Position in BlackRock, Inc. (NYSE:BLK)

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Essex Savings Bank lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 887 shares of the asset manager’s stock after acquiring an additional 25 shares during the period. Essex Savings Bank’s holdings in BlackRock were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of BlackRock by 3.7% during the 1st quarter. BlackRock Inc. now owns 8,255,110 shares of the asset manager’s stock valued at $3,632,002,000 after acquiring an additional 295,599 shares during the period. Wellington Management Group LLP lifted its position in shares of BlackRock by 0.4% during the 1st quarter. Wellington Management Group LLP now owns 4,743,375 shares of the asset manager’s stock valued at $2,086,943,000 after acquiring an additional 17,147 shares during the period. Wells Fargo & Company MN lifted its position in shares of BlackRock by 2.5% during the 1st quarter. Wells Fargo & Company MN now owns 2,190,239 shares of the asset manager’s stock valued at $963,639,000 after acquiring an additional 53,507 shares during the period. Morgan Stanley increased its stake in BlackRock by 2.0% during the 1st quarter. Morgan Stanley now owns 2,187,760 shares of the asset manager’s stock valued at $962,549,000 after purchasing an additional 43,802 shares in the last quarter. Finally, Capital International Investors increased its stake in BlackRock by 17.2% during the 1st quarter. Capital International Investors now owns 2,107,696 shares of the asset manager’s stock valued at $927,330,000 after purchasing an additional 309,557 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

Shares of NYSE BLK traded up $1.92 during trading on Friday, hitting $575.01. The stock had a trading volume of 375,919 shares, compared to its average volume of 569,521. BlackRock, Inc. has a 12 month low of $323.98 and a 12 month high of $592.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.08 and a quick ratio of 4.08. The company has a market capitalization of $88.70 billion, a PE ratio of 20.22, a PEG ratio of 1.96 and a beta of 1.27. The firm has a fifty day moving average of $556.48 and a two-hundred day moving average of $509.32.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, July 17th. The asset manager reported $7.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.90 by $0.95. BlackRock had a net margin of 29.55% and a return on equity of 14.14%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the business posted $6.41 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post 29.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be issued a $3.63 dividend. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, September 3rd. BlackRock’s dividend payout ratio (DPR) is currently 50.98%.

A number of analysts have commented on BLK shares. Bank of America boosted their price target on shares of BlackRock from $633.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wells Fargo & Co boosted their price target on shares of BlackRock from $605.00 to $615.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Barclays boosted their price target on shares of BlackRock from $515.00 to $580.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Argus boosted their price target on shares of BlackRock from $530.00 to $640.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, BMO Capital Markets boosted their price target on shares of BlackRock from $560.00 to $620.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $600.17.

In related news, Director Rachel Lord sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $499.31, for a total value of $1,497,930.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 41,706 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $580.29, for a total transaction of $24,201,574.74. The disclosure for this sale can be found here. Insiders sold a total of 53,388 shares of company stock worth $30,536,679 over the last three months. 1.42% of the stock is owned by insiders.

About BlackRock

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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