Cutler Investment Counsel LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,670 shares of the asset manager’s stock after selling 555 shares during the quarter. BlackRock makes up 2.1% of Cutler Investment Counsel LLC’s portfolio, making the stock its 17th largest holding. Cutler Investment Counsel LLC’s holdings in BlackRock were worth $10,994,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Webster Bank N. A. lifted its stake in shares of BlackRock by 6.5% in the 2nd quarter. Webster Bank N. A. now owns 18,338 shares of the asset manager’s stock valued at $8,606,000 after purchasing an additional 1,123 shares during the last quarter. SevenBridge Financial Group LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $38,000. Legacy Advisors LLC lifted its stake in shares of BlackRock by 59.6% in the 2nd quarter. Legacy Advisors LLC now owns 300 shares of the asset manager’s stock valued at $141,000 after purchasing an additional 112 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of BlackRock by 1.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,944 shares of the asset manager’s stock valued at $6,075,000 after purchasing an additional 136 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its stake in shares of BlackRock by 5.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 624 shares of the asset manager’s stock valued at $293,000 after purchasing an additional 30 shares during the last quarter. 81.36% of the stock is owned by institutional investors.
BLK opened at $494.21 on Thursday. The stock’s 50-day moving average price is $467.23 and its 200 day moving average price is $450.29. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $495.78. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.76. The firm has a market cap of $75.93 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.70 and a beta of 1.54.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.95 by $0.20. BlackRock had a return on equity of 12.95% and a net margin of 29.31%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the company earned $7.52 EPS. BlackRock’s revenue was up 3.2% on a year-over-year basis. On average, research analysts forecast that BlackRock, Inc. will post 27.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio is currently 49.02%.
BLK has been the topic of several recent analyst reports. Citigroup decreased their price target on BlackRock from $545.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. ValuEngine lowered BlackRock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Barclays reissued a “buy” rating and set a $485.00 target price on shares of BlackRock in a research note on Wednesday, October 9th. Credit Suisse Group set a $567.00 target price on BlackRock and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of BlackRock in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. BlackRock has a consensus rating of “Buy” and an average price target of $507.34.
In other BlackRock news, CFO Gary Shedlin sold 3,995 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $490.96, for a total value of $1,961,385.20. Also, CEO Laurence Fink sold 100 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $457.02, for a total value of $45,702.00. The disclosure for this sale can be found here. Insiders sold a total of 6,095 shares of company stock worth $2,900,567 in the last ninety days. 1.42% of the stock is owned by corporate insiders.
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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