BlackRock, Inc. (BLK) Shares Sold by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. lessened its stake in BlackRock, Inc. (NYSE:BLK) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 116,058 shares of the asset manager’s stock after selling 1,172 shares during the quarter. Chevy Chase Trust Holdings Inc.’s holdings in BlackRock were worth $59,621,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BLK. Keel Point LLC lifted its position in shares of BlackRock by 0.6% in the second quarter. Keel Point LLC now owns 802 shares of the asset manager’s stock worth $339,000 after purchasing an additional 5 shares in the last quarter. Bangor Savings Bank lifted its position in shares of BlackRock by 0.6% in the second quarter. Bangor Savings Bank now owns 1,172 shares of the asset manager’s stock worth $495,000 after purchasing an additional 7 shares in the last quarter. Zevenbergen Capital Investments LLC lifted its position in shares of BlackRock by 0.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 2,294 shares of the asset manager’s stock worth $969,000 after purchasing an additional 10 shares in the last quarter. Veritable L.P. lifted its position in shares of BlackRock by 0.3% in the second quarter. Veritable L.P. now owns 3,936 shares of the asset manager’s stock worth $1,663,000 after purchasing an additional 11 shares in the last quarter. Finally, KCM Investment Advisors LLC lifted its position in shares of BlackRock by 3.0% in the second quarter. KCM Investment Advisors LLC now owns 683 shares of the asset manager’s stock worth $289,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 83.60% of the company’s stock.

BlackRock, Inc. (BLK) traded up $11.04 during midday trading on Monday, reaching $590.26. 591,600 shares of the company’s stock traded hands, compared to its average volume of 685,754. 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 1 year low of $365.83 and a 1 year high of $590.56. The company has a market capitalization of $93,500.00, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.58 and a beta of 1.81.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.14 earnings per share. sell-side analysts expect that BlackRock, Inc. will post 28.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be given a $2.88 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a dividend yield of 1.95%. BlackRock’s dividend payout ratio is presently 33.00%.

In related news, insider Jeff A. Smith sold 100 shares of the company’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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were 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 in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders sold 4,525 shares of company stock worth $2,312,687 over the last three months. Insiders own 1.86% of the company’s stock.

A number of brokerages have recently commented on BLK. Wells Fargo & Co reissued a “market perform” rating and issued a $555.00 price objective (up previously from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Argus reissued a “buy” rating and issued a $620.00 price objective (up previously from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Citigroup boosted their price objective on shares of BlackRock to $625.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Jefferies Group reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target on the stock in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $547.92.

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About BlackRock

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.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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