Indiana Trust & Investment Management CO trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 8.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,564 shares of the asset manager’s stock after selling 244 shares during the quarter. BlackRock accounts for 1.0% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 20th biggest position. Indiana Trust & Investment Management CO’s holdings in BlackRock were worth $1,933,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Means Investment CO. Inc. raised its stake in shares of BlackRock by 7.4% during the first quarter. Means Investment CO. Inc. now owns 2,111 shares of the asset manager’s stock worth $1,592,000 after buying an additional 146 shares during the last quarter. Security National Bank raised its stake in shares of BlackRock by 1.1% during the first quarter. Security National Bank now owns 6,884 shares of the asset manager’s stock worth $5,190,000 after buying an additional 74 shares during the last quarter. Boltwood Capital Management bought a new stake in shares of BlackRock during the first quarter worth approximately $440,000. Birch Capital Management LLC bought a new stake in shares of BlackRock during the first quarter worth approximately $26,000. Finally, Chemung Canal Trust Co. raised its stake in shares of BlackRock by 510.1% during the first quarter. Chemung Canal Trust Co. now owns 8,163 shares of the asset manager’s stock worth $6,154,000 after buying an additional 6,825 shares during the last quarter. 79.10% of the stock is owned by institutional investors and hedge funds.
In other BlackRock news, Director Mark Mccombe sold 1,476 shares of the firm’s stock in a transaction dated Tuesday, February 2nd. The shares were sold at an average price of $726.09, for a total value of $1,071,708.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 1,775 shares of the firm’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $735.85, for a total transaction of $1,306,133.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,418 shares of company stock worth $29,492,515. Insiders own 1.42% of the company’s stock.
BLK stock traded up $8.60 during trading hours on Thursday, reaching $796.60. The stock had a trading volume of 7,037 shares, compared to its average volume of 707,522. The stock has a market capitalization of $121.59 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.01 and a quick ratio of 1.02. The stock has a 50-day simple moving average of $725.50 and a 200 day simple moving average of $688.58. BlackRock, Inc. has a fifty-two week low of $440.00 and a fifty-two week high of $790.22.
BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 13th. The asset manager reported $10.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.14 by $1.04. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.28 billion. BlackRock had a net margin of 30.43% and a return on equity of 15.74%. BlackRock’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $8.34 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 36.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 23rd. Shareholders of record on Friday, March 5th were issued a $4.13 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $3.63. This represents a $16.52 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, March 4th. BlackRock’s dividend payout ratio (DPR) is currently 48.85%.
A number of research firms recently weighed in on BLK. BMO Capital Markets boosted their price target on shares of BlackRock from $709.00 to $715.00 and gave the stock a “market perform” rating in a research note on Friday, January 15th. Morgan Stanley upped their target price on shares of BlackRock from $890.00 to $924.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $835.00 to $838.00 and gave the company a “buy” rating in a research note on Friday, January 15th. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating and set a $733.00 target price for the company. in a research note on Monday, December 21st. Finally, Barclays increased their price objective on shares of BlackRock from $800.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, January 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $740.09.
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.
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