Cambridge Trust Co. lowered its holdings in BlackRock, Inc. (NYSE:BLK) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,119 shares of the asset manager’s stock after selling 1,351 shares during the period. Cambridge Trust Co.’s holdings in BlackRock were worth $15,366,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Dearborn Partners LLC raised its holdings in shares of BlackRock by 112.4% during the 4th quarter. Dearborn Partners LLC now owns 2,264 shares of the asset manager’s stock valued at $889,000 after buying an additional 1,198 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of BlackRock by 966.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 192 shares of the asset manager’s stock valued at $75,000 after buying an additional 174 shares in the last quarter. Regal Investment Advisors LLC purchased a new position in shares of BlackRock during the 4th quarter valued at about $1,872,000. BB&T Securities LLC raised its holdings in shares of BlackRock by 9.7% during the 4th quarter. BB&T Securities LLC now owns 34,918 shares of the asset manager’s stock valued at $13,716,000 after buying an additional 3,094 shares in the last quarter. Finally, Hartford Investment Management Co. raised its holdings in shares of BlackRock by 1.2% during the 4th quarter. Hartford Investment Management Co. now owns 15,324 shares of the asset manager’s stock valued at $6,020,000 after buying an additional 175 shares in the last quarter. 86.05% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on BLK. Morgan Stanley set a $515.00 price objective on BlackRock and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group raised BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price objective on the stock in a report on Tuesday, January 29th. Credit Suisse Group reissued a “buy” rating and set a $532.00 price objective on shares of BlackRock in a report on Thursday, January 17th. Argus reissued a “buy” rating on shares of BlackRock in a report on Thursday, January 17th. Finally, Wells Fargo & Co reissued a “hold” rating and set a $425.00 price objective (up from $410.00) on shares of BlackRock in a report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. BlackRock currently has an average rating of “Buy” and an average target price of $503.03.
In other news, insider Mark Mccombe sold 3,000 shares of BlackRock stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $417.04, for a total value of $1,251,120.00. Following the sale, the insider now directly owns 30,543 shares in the company, valued at approximately $12,737,652.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 2,100 shares of BlackRock stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $419.11, for a total value of $880,131.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,929 shares of company stock worth $36,214,650. 1.75% of the stock is owned by corporate insiders.
BLK opened at $412.70 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.07 and a current ratio of 3.07. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $578.80. The company has a market cap of $64.94 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.57 and a beta of 1.37.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.35 by ($0.27). BlackRock had a return on equity of 13.53% and a net margin of 30.32%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the business earned $6.24 earnings per share. BlackRock’s revenue was down 8.8% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 25.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.20%. This is a positive change from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date of this dividend is Tuesday, March 5th. BlackRock’s dividend payout ratio (DPR) is presently 46.49%.
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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