Whittier Trust Co. Sells 11,652 Shares of BlackRock, Inc. (NYSE:BLK)

Whittier Trust Co. lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 45.9% in the 3rd quarter, Holdings Channel reports. The firm owned 13,755 shares of the asset manager’s stock after selling 11,652 shares during the period. Whittier Trust Co.’s holdings in BlackRock were worth $13,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Redmont Wealth Advisors LLC bought a new position in shares of BlackRock in the 1st quarter valued at about $27,000. Fairscale Capital LLC purchased a new stake in BlackRock in the 2nd quarter worth about $31,000. Chilton Capital Management LLC purchased a new stake in BlackRock in the 1st quarter worth about $38,000. Olistico Wealth LLC purchased a new position in shares of BlackRock during the second quarter worth approximately $53,000. Finally, ORG Partners LLC increased its position in shares of BlackRock by 257.9% during the second quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after acquiring an additional 49 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,527,116. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,042 shares of company stock valued at $56,857,777. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BLK traded down $4.52 on Monday, reaching $1,002.50. 204,370 shares of the company’s stock were exchanged, compared to its average volume of 575,925. The stock has a market cap of $148.97 billion, a PE ratio of 25.56, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $1,032.00. The stock’s fifty day moving average price is $915.45 and its 200-day moving average price is $837.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $10.91 earnings per share. Sell-side analysts expect that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Argus raised their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Citigroup raised their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $995.31.

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.