Sanibel Captiva Trust Company Inc. Cuts Stock Position in BlackRock, Inc. (NYSE:BLK)

Sanibel Captiva Trust Company Inc. lowered its stake in BlackRock, Inc. (NYSE:BLK) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 35,678 shares of the asset manager’s stock after selling 814 shares during the quarter. BlackRock accounts for about 1.1% of Sanibel Captiva Trust Company Inc.’s portfolio, making the stock its 23rd biggest holding. Sanibel Captiva Trust Company Inc.’s holdings in BlackRock were worth $33,877,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI boosted their price target on shares of BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Citigroup raised their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley raised their price objective on BlackRock from $1,036.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $948.93.

Insiders Place Their Bets

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

BlackRock Stock Performance

Shares of BLK stock opened at $956.61 on Thursday. The firm has a 50 day moving average of $893.10 and a two-hundred day moving average of $828.30. The stock has a market capitalization of $142.15 billion, a PE ratio of 24.31, a P/E/G ratio of 2.05 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $962.95.

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

BlackRock Dividend Announcement

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