BlackRock $BLK Shares Sold by Riverview Trust Co

Riverview Trust Co lowered its stake in BlackRock (NYSE:BLK) by 8.3% during the second quarter, Holdings Channel.com reports. The firm owned 597 shares of the asset manager’s stock after selling 54 shares during the quarter. BlackRock accounts for about 0.8% of Riverview Trust Co’s portfolio, making the stock its 20th largest position. Riverview Trust Co’s holdings in BlackRock were worth $626,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BLK. Brighton Jones LLC raised its position in BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after purchasing an additional 296 shares in the last quarter. Bison Wealth LLC grew its stake in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after buying an additional 17 shares during the last quarter. RFG Advisory LLC purchased a new position in BlackRock during the 1st quarter worth approximately $1,120,000. Greenfield Savings Bank grew its stake in BlackRock by 12.2% during the 1st quarter. Greenfield Savings Bank now owns 1,137 shares of the asset manager’s stock worth $1,076,000 after buying an additional 124 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its stake in shares of BlackRock by 3.0% in the 1st quarter. Financial Management Professionals Inc. now owns 451 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares of the company’s stock, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the transaction, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BLK. Citigroup lifted their target price on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday. UBS Group reissued a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Evercore ISI raised their price target on BlackRock from $1,170.00 to $1,200.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Finally, Morgan Stanley reduced their price target on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,171.93.

BlackRock Stock Performance

Shares of BLK stock opened at $1,142.33 on Thursday. The stock has a fifty day moving average price of $1,128.09 and a 200 day moving average price of $1,024.88. The stock has a market cap of $176.89 billion, a PE ratio of 27.62, a P/E/G ratio of 2.23 and a beta of 1.45. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,183.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.36 earnings per share. Sell-side analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s payout ratio is 50.39%.

About BlackRock

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.