First National Trust Co Has $11 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

First National Trust Co boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,731 shares of the asset manager’s stock after buying an additional 29 shares during the period. First National Trust Co’s holdings in BlackRock were worth $11,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. IAG Wealth Partners LLC acquired a new position in BlackRock in the 4th quarter worth about $26,000. FSA Wealth Management LLC acquired a new position in BlackRock in the 3rd quarter worth about $26,000. Collier Financial acquired a new position in BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc acquired a new position in shares of BlackRock during the 4th quarter valued at about $33,000. Finally, Atwood & Palmer Inc. acquired a new position in shares of BlackRock during the 4th quarter valued at about $36,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director J. Richard Kushel sold 430 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now directly owns 3,720 shares in the company, valued at $3,531,656.40. This trade represents a 10.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 20,430 shares of company stock valued at $21,234,629. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Down 1.1 %

BLK stock opened at $900.50 on Friday. The business has a fifty day moving average price of $985.45 and a 200 day moving average price of $985.29. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The stock has a market capitalization of $139.81 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.90 and a beta of 1.29. 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 (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $9.66 EPS. Analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $5.21 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is 49.62%.

Analyst Ratings Changes

A number of research analysts have recently commented on BLK shares. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley increased their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. StockNews.com assumed coverage on BlackRock in a research note on Thursday. They set a “hold” rating for the company. Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

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.