Fulton Bank N.A. Has $2.78 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Fulton Bank N.A. decreased its position in BlackRock, Inc. (NYSE:BLK) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,707 shares of the asset manager’s stock after selling 74 shares during the quarter. Fulton Bank N.A.’s holdings in BlackRock were worth $2,775,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of BlackRock by 4.6% during the 2nd quarter. Victory Capital Management Inc. now owns 52,542 shares of the asset manager’s stock worth $41,367,000 after purchasing an additional 2,319 shares in the last quarter. Acadian Asset Management LLC increased its stake in BlackRock by 156.1% during the 2nd quarter. Acadian Asset Management LLC now owns 6,150 shares of the asset manager’s stock worth $4,839,000 after acquiring an additional 3,749 shares during the period. Prudential PLC raised its holdings in BlackRock by 22.2% in the 2nd quarter. Prudential PLC now owns 2,411 shares of the asset manager’s stock valued at $1,898,000 after acquiring an additional 438 shares in the last quarter. Wedbush Securities Inc. lifted its position in shares of BlackRock by 5.2% during the 2nd quarter. Wedbush Securities Inc. now owns 3,215 shares of the asset manager’s stock valued at $2,531,000 after acquiring an additional 160 shares during the period. Finally, Choreo LLC grew its holdings in shares of BlackRock by 478.5% during the 2nd quarter. Choreo LLC now owns 4,894 shares of the asset manager’s stock worth $3,831,000 after purchasing an additional 4,048 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Citigroup upped their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley upped their target price on BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,070.08.

BlackRock Trading Up 0.1 %

Shares of BlackRock stock traded up $1.17 on Wednesday, hitting $981.93. The stock had a trading volume of 238,177 shares, compared to its average volume of 577,314. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market capitalization of $152.08 billion, a P/E ratio of 24.23, a PEG ratio of 1.92 and a beta of 1.28. The stock has a 50 day moving average of $1,031.37 and a 200 day moving average of $937.51.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.91 earnings per share. Sell-side analysts expect that BlackRock, Inc. will post 43.18 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.08%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Insider Activity at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.