Smithfield Trust Co. decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234 shares of the asset manager’s stock after selling 65 shares during the quarter. Smithfield Trust Co.’s holdings in BlackRock were worth $92,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Private Ocean LLC boosted its holdings in BlackRock by 620.0% in the 4th quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 62 shares during the period. Evolution Wealth Advisors LLC bought a new position in shares of BlackRock during the 4th quarter worth about $33,000. Legacy Financial Advisors Inc. lifted its holdings in BlackRock by 125.6% during the 4th quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 49 shares during the last quarter. Highwater Wealth Management LLC bought a new position in BlackRock during the 4th quarter valued at about $41,000. Finally, Clean Yield Group bought a new position in BlackRock during the 4th quarter valued at about $59,000. Institutional investors own 86.05% of the company’s stock.
Shares of NYSE:BLK opened at $412.70 on Tuesday. BlackRock, Inc. has a one year low of $360.79 and a one year high of $578.80. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76. The company has a market cap of $64.94 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $13.20 dividend on an annualized basis and a yield of 3.20%. This is a boost from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s payout ratio is currently 46.49%.
Several equities research analysts have weighed in on the stock. Wells Fargo & Co restated a “hold” rating and issued a $425.00 price objective (up previously from $410.00) on shares of BlackRock in a research report on Wednesday, January 16th. Argus restated a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Credit Suisse Group restated a “buy” rating and issued a $532.00 price objective on shares of BlackRock in a research report on Thursday, January 17th. Morgan Stanley set a $515.00 price objective on shares of BlackRock and gave the company a “buy” rating in a research report on Friday. Finally, Citigroup lowered their price objective on shares of BlackRock to $500.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and an average price target of $503.03.
In other BlackRock news, CEO Laurence Fink sold 25,102 shares of BlackRock stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $418.89, for a total value of $10,514,976.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Mccombe sold 3,000 shares of BlackRock stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $417.04, for a total transaction of $1,251,120.00. Following the completion of the transaction, the insider now directly owns 30,543 shares in the company, valued at approximately $12,737,652.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,929 shares of company stock valued at $36,214,650. Corporate insiders own 1.75% 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.
Featured Article: What Are Treasury Bonds?
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.