Trust Co. of Virginia VA cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,933 shares of the asset manager’s stock after selling 146 shares during the period. BlackRock makes up 2.1% of Trust Co. of Virginia VA’s holdings, making the stock its 10th biggest holding. Trust Co. of Virginia VA’s holdings in BlackRock were worth $14,863,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Invictus RG purchased a new stake in shares of BlackRock during the 3rd quarter valued at approximately $110,000. Assetmark Inc. increased its holdings in BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after acquiring an additional 101 shares during the period. Oakworth Capital Inc. increased its holdings in BlackRock by 67.6% during the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after acquiring an additional 123 shares during the period. Sumitomo Mitsui Financial Group Inc. increased its holdings in BlackRock by 1,119.2% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after acquiring an additional 291 shares during the period. Finally, Manchester Capital Management LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $156,000. 84.65% of the stock is owned by institutional investors.
In other news, insider Mark Mccombe sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $520.64, for a total transaction of $1,041,280.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeff A. Smith sold 425 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total transaction of $240,533.00. The disclosure for this sale can be found here. Insiders have sold 20,961 shares of company stock worth $11,375,444 in the last quarter. Company insiders own 1.86% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) traded down $5.10 during trading hours on Wednesday, reaching $558.96. 339,235 shares of the company’s stock traded hands, compared to its average volume of 663,093. BlackRock, Inc. has a twelve month low of $368.00 and a twelve month high of $594.52. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.94 and a quick ratio of 2.94. The stock has a market capitalization of $89,840.00, a P/E ratio of 24.22, a P/E/G ratio of 1.54 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm earned $5.14 earnings per share. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. research analysts expect that BlackRock, Inc. will post 28.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This is a boost from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a yield of 2.06%. BlackRock’s payout ratio is 49.91%.
A number of equities analysts have recently commented on BLK shares. JPMorgan Chase & Co. decreased their price target on shares of BlackRock to $640.00 and set an “overweight” rating on the stock in a report on Wednesday. Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine lowered shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Deutsche Bank dropped their price target on shares of BlackRock to $623.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. Finally, Argus reissued a “buy” rating and set a $620.00 price target (up previously from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and an average target price of $567.15.
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BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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