Perkins Coie Trust Co Trims Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Perkins Coie Trust Co decreased its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,295 shares of the asset manager's stock after selling 300 shares during the quarter. BlackRock makes up 1.4% of Perkins Coie Trust Co's investment portfolio, making the stock its 17th biggest holding. Perkins Coie Trust Co's holdings in BlackRock were worth $6,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new stake in shares of BlackRock during the 3rd quarter worth $518,000. Erste Asset Management GmbH purchased a new stake in BlackRock during the 3rd quarter worth about $32,904,000. Raymond James Trust N.A. boosted its position in shares of BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager's stock worth $25,724,000 after acquiring an additional 614 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of BlackRock by 2.8% in the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager's stock valued at $65,010,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager's stock worth $3,169,000 after acquiring an additional 565 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays dropped their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Morgan Stanley increased their target price on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an "overweight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a report 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 MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,103.33.

BlackRock Stock Performance

Shares of NYSE BLK traded up $8.51 during mid-day trading on Friday, hitting $1,004.23. 1,079,196 shares of the company were exchanged, compared to its average volume of 610,586. The stock has a 50 day simple moving average of $1,027.33 and a 200-day simple moving average of $947.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. 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 market cap of $155.54 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping 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 analysts' expectations of $5.57 billion. During the same quarter last year, the business earned $9.66 EPS. The business's revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the business's stock in a transaction dated 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 sale, the director now owns 6,480 shares of the company's stock, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert L. Goldstein sold 54,000 shares of the company's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

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.