Cetera Trust Company N.A Sells 100 Shares of BlackRock, Inc. (NYSE:BLK)

Cetera Trust Company N.A reduced its stake in BlackRock, Inc. (NYSE:BLK) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,079 shares of the asset manager’s stock after selling 100 shares during the quarter. BlackRock comprises approximately 1.8% of Cetera Trust Company N.A’s holdings, making the stock its 12th largest position. Cetera Trust Company N.A’s holdings in BlackRock were worth $2,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the first quarter worth about $27,000. Fairscale Capital LLC purchased a new position in BlackRock in the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC bought a new position in BlackRock in the 1st quarter valued at approximately $38,000. Olistico Wealth LLC purchased a new stake in BlackRock during the 2nd quarter valued at $53,000. Finally, ORG Partners LLC increased its holdings in shares of BlackRock by 257.9% in the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,042 shares of company stock worth $56,857,777. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock traded down $4.69 on Tuesday, hitting $995.84. 123,660 shares of the company’s stock were exchanged, compared to its average volume of 574,320. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a market capitalization of $147.98 billion, a PE ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $1,032.00. The company has a 50-day simple moving average of $918.70 and a 200-day simple moving average of $839.13.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the business earned $10.91 earnings per share. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com began coverage on BlackRock in a report on Sunday. They set a “hold” rating on the stock. Citigroup upped their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Barclays increased their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, UBS Group cut their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

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.