Private Trust Co. NA Increases Stake in BlackRock, Inc. (NYSE:BLK)

Private Trust Co. NA grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,188 shares of the asset manager’s stock after buying an additional 98 shares during the period. Private Trust Co. NA’s holdings in BlackRock were worth $1,128,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BLK. Marino Stram & Associates LLC raised its stake in BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after purchasing an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its position in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after buying an additional 11 shares during the period. Harbor Capital Advisors Inc. increased its stake in BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after acquiring an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in BlackRock by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock valued at $1,447,000 after buying an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.5 %

Shares of NYSE BLK opened at $1,031.49 on Tuesday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $987.00 and a 200 day moving average price of $882.60. BlackRock, Inc. has a 52 week low of $724.54 and a 52 week high of $1,068.34. The stock has a market capitalization of $159.76 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the firm earned $10.91 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.98%. BlackRock’s dividend payout ratio is presently 50.35%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BLK. Barclays raised their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, StockNews.com started coverage on BlackRock in a report on Thursday, November 21st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.

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.