Cetera Trust Company N.A Sells 100 Shares of BlackRock, Inc. (NYSE:BLK)

Cetera Trust Company N.A trimmed its position in BlackRock, Inc. (NYSE:BLK) by 3.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,079 shares of the asset manager’s stock after selling 100 shares during the quarter. BlackRock accounts for about 1.8% of Cetera Trust Company N.A’s investment portfolio, making the stock its 12th largest holding. Cetera Trust Company N.A’s holdings in BlackRock were worth $2,924,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new stake in BlackRock during the first quarter valued at $27,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock during the 2nd quarter valued at about $31,000. Chilton Capital Management LLC bought a new position in shares of BlackRock in the 1st quarter valued at about $38,000. City Holding Co. bought a new stake in BlackRock during the third quarter worth approximately $55,000. Finally, Olistico Wealth LLC purchased a new stake in BlackRock during the second quarter valued at approximately $53,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred 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 owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 over the last 90 days. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.5 %

Shares of BLK traded down $4.69 during midday trading on Tuesday, reaching $995.84. 123,660 shares of the stock were exchanged, compared to its average volume of 574,320. The company has a market capitalization of $147.98 billion, a P/E ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick 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 $1,032.00. The company’s 50 day moving average is $918.70 and its two-hundred day moving average is $839.13.

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

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Argus boosted 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. UBS Group dropped their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. TD Cowen increased their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Citigroup boosted their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $995.31.

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.