Whittier Trust Co. Sells 11,652 Shares of BlackRock, Inc. (NYSE:BLK)

Whittier Trust Co. decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 45.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,755 shares of the asset manager’s stock after selling 11,652 shares during the period. Whittier Trust Co.’s holdings in BlackRock were worth $13,060,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BLK. Vanguard Group Inc. raised its position in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors raised its position in BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. raised its position in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after purchasing an additional 46,728 shares in the last quarter. Legal & General Group Plc raised its position in BlackRock by 1.9% during the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after purchasing an additional 22,311 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in BlackRock by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock valued at $539,673,000 after purchasing an additional 17,087 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the company’s 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 completion of the sale, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated 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 transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,042 shares of company stock worth $56,857,777. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of research reports. Wells Fargo & Company raised their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. StockNews.com began coverage on BlackRock in a research report on Sunday. They set a “hold” rating on the stock. Citigroup lifted their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays lifted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Trading Down 0.4 %

NYSE:BLK traded down $4.52 during mid-day trading on Monday, reaching $1,002.50. 204,370 shares of the company’s stock traded hands, compared to its average volume of 575,925. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,032.00. The firm has a market capitalization of $148.97 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a 50 day moving average price of $915.45 and a 200-day moving average price of $837.66.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 EPS. On average, sell-side analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a dividend of $5.10 per share. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. BlackRock’s dividend payout ratio is presently 51.84%.

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.