Country Trust Bank Acquires 2,473 Shares of BlackRock, Inc. (BLK)

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Country Trust Bank increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,455 shares of the asset manager’s stock after purchasing an additional 2,473 shares during the period. BlackRock accounts for 1.7% of Country Trust Bank’s investment portfolio, making the stock its 16th largest holding. Country Trust Bank owned 0.06% of BlackRock worth $38,230,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Somerset Trust Co increased its holdings in shares of BlackRock by 0.6% in the 1st quarter. Somerset Trust Co now owns 3,678 shares of the asset manager’s stock valued at $1,572,000 after purchasing an additional 23 shares in the last quarter. First Manhattan Co. increased its holdings in shares of BlackRock by 3.5% in the 1st quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 24 shares in the last quarter. Shine Investment Advisory Services Inc. increased its holdings in shares of BlackRock by 18.1% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 176 shares of the asset manager’s stock valued at $69,000 after purchasing an additional 27 shares in the last quarter. IMS Capital Management increased its holdings in shares of BlackRock by 0.8% in the 3rd quarter. IMS Capital Management now owns 3,510 shares of the asset manager’s stock valued at $1,654,000 after purchasing an additional 28 shares in the last quarter. Finally, Clarus Wealth Advisors increased its holdings in shares of BlackRock by 7.2% in the 1st quarter. Clarus Wealth Advisors now owns 432 shares of the asset manager’s stock valued at $184,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Shares of BLK traded down $1.25 during mid-day trading on Wednesday, hitting $465.29. The company had a trading volume of 160,500 shares, compared to its average volume of 500,267. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.11. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $557.00. The stock has a market capitalization of $73.45 billion, a PE ratio of 17.28, a P/E/G ratio of 1.70 and a beta of 1.40.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same period last year, the company earned $6.48 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts expect that BlackRock, Inc. will post 27.07 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on BLK shares. Zacks Investment Research reiterated a “sell” rating on shares of BlackRock in a report on Monday, December 31st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $472.00 price target on shares of BlackRock in a report on Wednesday, January 9th. Deutsche Bank downgraded shares of BlackRock from a “buy” rating to a “hold” rating and cut their price target for the company from $444.00 to $405.00 in a report on Thursday, January 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $427.00 price target on shares of BlackRock in a report on Wednesday, January 9th. Finally, Morgan Stanley cut their price target on shares of BlackRock from $514.00 to $489.00 and set an “overweight” rating for the company in a report on Friday, January 4th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $509.38.

In related news, COO Robert L. Goldstein sold 5,133 shares of BlackRock stock in a transaction on Monday, March 4th. The shares were sold at an average price of $443.00, for a total value of $2,273,919.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider J. Richard Kushel sold 3,077 shares of BlackRock stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $409.29, for a total transaction of $1,259,385.33. The disclosure for this sale can be found here. Insiders sold 138,650 shares of company stock worth $57,774,089 in the last 90 days. 1.75% of the stock is currently owned by insiders.

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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