BlackRock, Inc. (NYSE:BLK) Position Reduced by Perkins Coie Trust Co

Perkins Coie Trust Co decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,192 shares of the asset manager’s stock after selling 103 shares during the period. BlackRock accounts for about 1.3% of Perkins Coie Trust Co’s investment portfolio, making the stock its 19th largest holding. Perkins Coie Trust Co’s holdings in BlackRock were worth $5,860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Brighton Jones LLC grew its position in BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after buying an additional 296 shares during the last quarter. Insight Advisors LLC PA acquired a new position in BlackRock in the fourth quarter worth approximately $369,000. YANKCOM Partnership acquired a new position in BlackRock in the fourth quarter worth approximately $83,000. Beacon Financial Advisory LLC acquired a new position in BlackRock in the fourth quarter worth approximately $201,000. Finally, Silver Oak Securities Incorporated acquired a new position in BlackRock in the fourth quarter worth approximately $301,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup decreased their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company increased their target price on BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America lowered their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. TD Cowen lowered their price target on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded BlackRock to a “hold” rating in a report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,082.46.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares in the company, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $990.26 on Friday. The business’s 50-day moving average price is $925.28 and its two-hundred day moving average price is $973.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22. The company has a market capitalization of $153.42 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the company posted $9.81 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

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.