Capital City Trust Co. FL Sells 23 Shares of BlackRock $BLK

Capital City Trust Co. FL lessened its stake in shares of BlackRock (NYSE:BLK) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,444 shares of the asset manager’s stock after selling 23 shares during the quarter. BlackRock comprises about 2.3% of Capital City Trust Co. FL’s portfolio, making the stock its 9th largest holding. Capital City Trust Co. FL’s holdings in BlackRock were worth $8,860,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after acquiring an additional 296 shares during the period. Bison Wealth LLC boosted its stake in BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after purchasing an additional 17 shares during the period. Breakwater Capital Group acquired a new position in BlackRock in the 1st quarter valued at $244,000. Magnus Financial Group LLC increased its position in BlackRock by 5.9% during the 1st quarter. Magnus Financial Group LLC now owns 414 shares of the asset manager’s stock worth $392,000 after buying an additional 23 shares during the period. Finally, Procyon Advisors LLC lifted its holdings in shares of BlackRock by 9.9% during the first quarter. Procyon Advisors LLC now owns 833 shares of the asset manager’s stock worth $789,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Up 0.0%

NYSE BLK opened at $1,160.75 on Friday. The business has a fifty day moving average price of $1,129.67 and a two-hundred day moving average price of $1,028.18. The stock has a market capitalization of $179.74 billion, a PE ratio of 28.06, a PEG ratio of 2.22 and a beta of 1.45. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,183.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The company 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 quarter in the previous year, the firm earned $10.36 EPS. Equities analysts expect 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 paid 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 was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Analyst Ratings Changes

Several equities analysts recently commented on BLK shares. Jefferies Financial Group upped their price target on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. UBS Group restated a “neutral” rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Morgan Stanley dropped their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. Citigroup increased their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,213.67.

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.