First Hawaiian Bank Invests $200,000 in BlackRock, Inc. (NYSE:BLK)

First Hawaiian Bank purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 240 shares of the asset manager’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake in shares of BlackRock by 23.7% in the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after acquiring an additional 749,654 shares in the last quarter. Capital World Investors raised its position in shares of BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after purchasing an additional 1,279,952 shares in the last quarter. Morgan Stanley boosted its stake in shares of BlackRock by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after buying an additional 104,844 shares during the last quarter. Capital International Investors increased its stake in shares of BlackRock by 2.4% in the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after buying an additional 58,681 shares during the last quarter. Finally, Norges Bank acquired a new stake in BlackRock in the fourth quarter valued at $1,812,920,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $787.60 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The firm has a fifty day moving average of $775.61 and a 200-day moving average of $791.47. The company has a market cap of $117.04 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 1.62 and a beta of 1.34. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the company posted $7.93 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a dividend of $5.10 per share. The ex-dividend date is Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.59%. BlackRock’s payout ratio is 51.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, UBS Group upped their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $845.42.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently 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.