Whittier Trust Co. of Nevada Inc. Trims Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Whittier Trust Co. of Nevada Inc. reduced its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 38.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,157 shares of the asset manager's stock after selling 4,542 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in BlackRock were worth $6,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Hawaiian Bank bought a new position in BlackRock during the first quarter valued at approximately $200,000. RFG Advisory LLC lifted its stake in shares of BlackRock by 3.2% in the 1st quarter. RFG Advisory LLC now owns 1,627 shares of the asset manager's stock worth $1,356,000 after purchasing an additional 50 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of BlackRock by 10.5% in the first quarter. International Assets Investment Management LLC now owns 874 shares of the asset manager's stock worth $722,000 after buying an additional 83 shares during the last quarter. AdvisorNet Financial Inc grew its position in BlackRock by 32.8% during the first quarter. AdvisorNet Financial Inc now owns 498 shares of the asset manager's stock valued at $415,000 after buying an additional 123 shares during the period. Finally, Austin Private Wealth LLC increased its holdings in BlackRock by 13.1% during the first quarter. Austin Private Wealth LLC now owns 424 shares of the asset manager's stock valued at $345,000 after buying an additional 49 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock worth $56,857,777 over the last 90 days. 0.90% of the stock is owned by insiders.

BlackRock Price Performance

BLK stock traded down $6.49 during mid-day trading on Monday, hitting $1,000.53. The company had a trading volume of 311,105 shares, compared to its average volume of 576,540. The company has a 50-day moving average price of $918.70 and a 200 day moving average price of $839.13. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,032.00. The company has a market capitalization of $148.68 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock's payout ratio is 51.84%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. 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 note on Monday. Finally, Keefe, Bruyette & Woods upped their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and an average price target of $995.31.

About BlackRock

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.