Cape ANN Savings Bank Cuts Position in BlackRock, Inc. (NYSE:BLK)

Cape ANN Savings Bank trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,579 shares of the asset manager’s stock after selling 43 shares during the quarter. BlackRock accounts for about 1.4% of Cape ANN Savings Bank’s holdings, making the stock its 19th largest position. Cape ANN Savings Bank’s holdings in BlackRock were worth $2,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors raised its holdings in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the period. Mayflower Financial Advisors LLC raised its stake in shares of BlackRock by 24,171.5% in the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after buying an additional 414,300 shares during the period. Vanguard Group Inc. lifted its position in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the last quarter. M&G Plc bought a new position in shares of BlackRock during the 1st quarter worth $161,918,000. Finally, Mubadala Investment Co PJSC purchased a new stake in BlackRock in the 4th quarter worth about $147,748,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BLK shares. TD Cowen reduced their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Evercore ISI lifted their price objective on shares of BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley upped their price target on BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Monday. Barclays upped their target price on shares of BlackRock from $990.00 to $1,010.00 and gave the stock an “overweight” rating in a report on Monday. Finally, UBS Group cut their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $943.93.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,042 shares of company stock valued at $79,387,117. Insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.9 %

Shares of BLK stock opened at $949.07 on Wednesday. The business has a 50-day moving average price of $891.57 and a two-hundred day moving average price of $827.42. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $960.74. 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 market cap of $141.03 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company posted $9.28 EPS. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

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.