Davidson Trust Co. Sells 80 Shares of BlackRock (NYSE:BLK)

Davidson Trust Co. trimmed its stake in BlackRock (NYSE:BLK) by 26.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 228 shares of the asset manager’s stock after selling 80 shares during the period. Davidson Trust Co.’s holdings in BlackRock were worth $216,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. IAG Wealth Partners LLC purchased a new stake in BlackRock during the 4th quarter valued at $26,000. Investment Management Corp VA ADV bought a new position in BlackRock during the fourth quarter valued at $30,000. MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock in the first quarter valued at $31,000. Synergy Investment Management LLC bought a new stake in shares of BlackRock in the 4th quarter worth about $40,000. Finally, Curio Wealth LLC purchased a new position in shares of BlackRock during the 4th quarter worth about $41,000. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director owned 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is owned by company insiders.

BlackRock Price Performance

Shares of BLK opened at $1,076.28 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The company has a 50 day moving average price of $976.32 and a 200-day moving average price of $969.46. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22. The stock has a market capitalization of $166.74 billion, a PE ratio of 26.15, a PEG ratio of 3.25 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. BlackRock’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.81 earnings per share. Equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley upped their target price on BlackRock from $1,111.00 to $1,164.00 and gave the company an “overweight” rating in a research note on Wednesday. Wall Street Zen raised shares of BlackRock to a “hold” rating in a research note on Saturday, May 24th. TD Cowen reduced their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Bank of America decreased their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group upped their target price on shares of BlackRock from $994.00 to $1,115.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,110.92.

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.