Perkins Coie Trust Co Decreases Stake in BlackRock, Inc. (NYSE:BLK)

Perkins Coie Trust Co trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,595 shares of the asset manager’s stock after selling 28 shares during the quarter. BlackRock comprises approximately 1.4% of Perkins Coie Trust Co’s portfolio, making the stock its 18th biggest position. Perkins Coie Trust Co’s holdings in BlackRock were worth $6,262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock in the first quarter worth $27,000. Pineridge Advisors LLC purchased a new position in shares of BlackRock in the fourth quarter worth approximately $28,000. Fairscale Capital LLC purchased a new stake in BlackRock during the second quarter valued at approximately $31,000. Lam Group Inc. bought a new position in BlackRock in the first quarter worth approximately $33,000. Finally, Fairman Group LLC purchased a new position in shares of BlackRock during the 4th quarter worth $35,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of NYSE BLK traded up $7.96 during midday trading on Wednesday, hitting $957.03. The company’s stock had a trading volume of 19,177 shares, compared to its average volume of 572,080. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $960.74. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $142.21 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The business’s 50 day moving average is $893.10 and its two-hundred day moving average is $828.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $9.28 EPS. As a group, equities research analysts expect that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.13%. BlackRock’s payout ratio is presently 51.84%.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BLK. Citigroup lifted their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com initiated coverage on shares of BlackRock in a research report on Friday, October 4th. They set a “hold” rating on the stock. Morgan Stanley upped their target price on shares of BlackRock from $1,036.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Monday. Finally, UBS Group decreased their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $943.93.

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.