Spinnaker Trust Sells 307 Shares of BlackRock, Inc. (NYSE:BLK)

Spinnaker Trust decreased its position in BlackRock, Inc. (NYSE:BLK) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,672 shares of the asset manager’s stock after selling 307 shares during the period. Spinnaker Trust’s holdings in BlackRock were worth $9,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new stake in BlackRock in the third quarter worth approximately $37,000. Chilton Capital Management LLC purchased a new position in BlackRock in the 1st quarter worth $38,000. MFA Wealth Advisors LLC lifted its stake in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of BlackRock during the second quarter valued at approximately $53,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.2 %

BLK traded up $1.80 during trading hours on Wednesday, reaching $1,016.15. 389,592 shares of the company’s stock traded hands, compared to its average volume of 569,392. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $944.72 and a 200 day moving average price of $855.82. BlackRock, Inc. has a 52-week low of $646.91 and a 52-week high of $1,057.51. The firm has a market capitalization of $150.52 billion, a PE ratio of 25.02, a PEG ratio of 1.77 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $10.91 EPS. As a group, sell-side analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BLK shares. StockNews.com began coverage on BlackRock in a report on Tuesday. They set a “hold” rating on the stock. Wells Fargo & Company boosted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Barclays raised their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Evercore ISI boosted their target price on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,670,194.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 35,061 shares of company stock worth $30,734,840 in the last ninety days. 0.90% of the stock is owned by company insiders.

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.