BlackRock, Inc. (BLK) Shares Bought by Trust Co

Trust Co increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 14.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,835 shares of the asset manager’s stock after purchasing an additional 595 shares during the quarter. Trust Co’s holdings in BlackRock were worth $2,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BLK. Third Point LLC acquired a new stake in BlackRock in the second quarter worth $654,736,000. Capital World Investors increased its position in BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after buying an additional 810,667 shares during the period. Vanguard Group Inc. increased its position in BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after buying an additional 656,569 shares during the period. Principal Financial Group Inc. increased its position in BlackRock by 207.1% in the second quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock worth $222,771,000 after buying an additional 355,630 shares during the period. Finally, BlackRock Inc. increased its position in BlackRock by 3.2% in the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after buying an additional 209,209 shares during the period. Hedge funds and other institutional investors own 83.54% of the company’s stock.

In related news, Director Susan Wagner sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the transaction, the director now owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeff A. Smith sold 100 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.

Several brokerages have weighed in on BLK. Zacks Investment Research raised BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price on the stock in a research report on Thursday. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $475.00 target price (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. JPMorgan Chase & Co. increased their target price on BlackRock to $558.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Finally, Jefferies Group reissued a “hold” rating and set a $465.00 price target on shares of BlackRock in a report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. BlackRock currently has an average rating of “Buy” and a consensus target price of $498.50.

Shares of BlackRock, Inc. (NYSE BLK) traded down $2.37 on Thursday, hitting $531.57. The stock had a trading volume of 483,700 shares, compared to its average volume of 491,614. The firm has a market capitalization of $85,190.00, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.57 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock, Inc. has a 52 week low of $365.83 and a 52 week high of $540.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company earned $5.14 earnings per share. research analysts expect that BlackRock, Inc. will post 22.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Monday, December 4th were paid a dividend of $2.50 per share. The ex-dividend date of this dividend was Friday, December 1st. This represents a $10.00 annualized dividend and a yield of 1.88%. BlackRock’s dividend payout ratio is currently 46.82%.

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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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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