BlackRock, Inc. (NYSE:BLK) Stock Position Decreased by Spinnaker Trust

Spinnaker Trust cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,454 shares of the asset manager’s stock after selling 218 shares during the period. Spinnaker Trust’s holdings in BlackRock were worth $9,691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in shares of BlackRock during the 3rd quarter worth about $26,000. Collier Financial purchased a new stake in shares of BlackRock during the 4th quarter worth about $32,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock in the 4th quarter valued at approximately $36,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the 3rd quarter valued at approximately $37,000. Finally, MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of NYSE:BLK opened at $973.22 on Friday. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The firm has a market capitalization of $150.73 billion, a PE ratio of 23.17, a PEG ratio of 1.93 and a beta of 1.28. The business’s 50 day moving average is $1,020.68 and its 200-day moving average is $972.03. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm earned $9.66 EPS. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Barclays cut their price objective on 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. Keefe, Bruyette & Woods cut their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Morgan Stanley raised their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the transaction, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. This trade represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is owned by corporate insiders.

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.