Perkins Coie Trust Co Has $6.45 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Perkins Coie Trust Co cut its position in BlackRock, Inc. (NYSE:BLK) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,295 shares of the asset manager’s stock after selling 300 shares during the period. BlackRock accounts for about 1.4% of Perkins Coie Trust Co’s investment portfolio, making the stock its 17th biggest position. Perkins Coie Trust Co’s holdings in BlackRock were worth $6,453,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter valued at $26,000. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter worth about $31,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the third quarter worth about $37,000. MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new position in shares of BlackRock during the fourth quarter worth approximately $39,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BLK shares. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com assumed coverage on BlackRock in a research report on Thursday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley boosted their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,103.33.

BlackRock Stock Up 0.9 %

BlackRock stock opened at $1,004.23 on Friday. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. 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 firm has a market capitalization of $155.54 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. The company’s 50 day simple moving average is $1,027.33 and its 200 day simple moving average is $946.18.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the business earned $9.66 EPS. The firm’s revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio is currently 50.35%.

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.