BlackRock, Inc. (NYSE:BLK) Stake Lowered by Perkins Coie Trust Co

Perkins Coie Trust Co trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,295 shares of the asset manager’s stock after selling 300 shares during the period. BlackRock comprises approximately 1.4% of Perkins Coie Trust Co’s portfolio, making the stock its 17th biggest holding. Perkins Coie Trust Co’s holdings in BlackRock were worth $6,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in shares of BlackRock during the 3rd quarter worth about $26,000. Fairscale Capital LLC acquired a new position in BlackRock in the second quarter worth approximately $31,000. Reston Wealth Management LLC bought a new position in BlackRock during the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC lifted its stake in BlackRock by 100.0% in the third 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, West Financial Advisors LLC bought a new stake in BlackRock in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 0.9 %

Shares of BLK stock opened at $1,004.23 on Friday. The firm has a market capitalization of $155.54 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The firm’s fifty day simple moving average is $1,027.33 and its 200 day simple moving average is $946.18. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the firm posted $9.66 EPS. The business’s revenue was up 22.6% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s dividend payout ratio is currently 50.35%.

Wall Street Analysts Forecast Growth

BLK has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Citigroup boosted their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. raised their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Barclays reduced their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, TD Cowen increased their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,103.33.

Insiders Place Their Bets

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

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.