Penobscot Investment Management Company Inc. Sells 235 Shares of BlackRock, Inc. (NYSE:BLK)

Penobscot Investment Management Company Inc. reduced its stake in BlackRock, Inc. (NYSE:BLK) by 4.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,826 shares of the asset manager’s stock after selling 235 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in BlackRock were worth $3,918,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BLK. Tennessee Valley Asset Management Partners bought a new position in BlackRock in the 4th quarter worth $27,000. LFA Lugano Financial Advisors SA increased its stake in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in BlackRock in the 4th quarter worth $32,000. Exchange Traded Concepts LLC increased its stake in BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after buying an additional 47 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in BlackRock in the 4th quarter worth $40,000. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group raised their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Trading Down 0.7 %

Shares of BlackRock stock traded down $5.21 on Tuesday, hitting $756.07. 120,830 shares of the company traded hands, compared to its average volume of 618,134. The stock’s 50 day moving average price is $801.42 and its 200-day moving average price is $762.69. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a market cap of $112.61 billion, a PE ratio of 19.31, a PEG ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the firm posted $7.93 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. Equities research analysts predict that BlackRock, Inc. will post 41.19 EPS for the current year.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the transaction, the director now directly owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold a total of 82,511 shares of company stock valued at $66,778,367 over the last ninety days. 0.90% of the stock is owned by company 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.