BlackRock, Inc. (NYSE:BLK) Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,481 shares of the asset manager’s stock after selling 98 shares during the quarter. BlackRock comprises about 1.5% of Cape ANN Savings Bank’s portfolio, making the stock its 17th largest position. Cape ANN Savings Bank’s holdings in BlackRock were worth $2,543,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BLK. FSA Wealth Management LLC acquired a new position in BlackRock during the third quarter valued at $26,000. Collier Financial acquired a new position in shares of BlackRock in the 4th quarter valued at about $32,000. Compass Planning Associates Inc acquired a new stake in BlackRock during the fourth quarter worth about $33,000. Atwood & Palmer Inc. purchased a new position in BlackRock during the fourth quarter valued at approximately $36,000. Finally, Reston Wealth Management LLC acquired a new position in BlackRock in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 1.5 %

NYSE BLK opened at $974.97 on Monday. The business has a fifty day moving average price of $1,011.61 and a 200 day moving average price of $978.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a market cap of $151.00 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $9.66 earnings per share. Research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, March 7th. BlackRock’s payout ratio is currently 48.57%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLK. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup raised their target price on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Barclays reduced their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Activity

In other news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,190 shares of company stock worth $115,163,141 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Company 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.