Evercore Wealth Management LLC Sells 413 Shares of BlackRock, Inc. (NYSE:BLK)

Evercore Wealth Management LLC lessened its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,662 shares of the asset manager's stock after selling 413 shares during the period. BlackRock comprises 1.8% of Evercore Wealth Management LLC's portfolio, making the stock its 21st largest holding. Evercore Wealth Management LLC owned approximately 0.07% of BlackRock worth $118,566,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fidelity D & D Bancorp Inc. increased its stake in BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager's stock valued at $263,000 after purchasing an additional 10 shares in the last quarter. Princeton Global Asset Management LLC increased its position in shares of BlackRock by 8.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager's stock valued at $128,000 after buying an additional 10 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in BlackRock by 0.8% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager's stock worth $1,311,000 after buying an additional 10 shares during the period. Legacy Capital Group California Inc. lifted its holdings in BlackRock by 2.8% during the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager's stock worth $377,000 after acquiring an additional 10 shares in the last quarter. Finally, Marino Stram & Associates LLC increased its holdings in shares of BlackRock by 0.3% in the fourth quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager's stock worth $3,496,000 after acquiring an additional 11 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analyst Weigh In

BLK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating on the stock in a report on Monday, January 13th. Bank of America lowered 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 research report on Thursday, April 3rd. TD Cowen cut their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. StockNews.com initiated coverage on BlackRock in a report on Tuesday, April 22nd. They set a "hold" rating for the company. Finally, Citigroup reduced their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares of the company's stock, valued at approximately $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 12,430 shares of company stock valued at $12,838,649 in the last 90 days. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Performance

BLK traded up $4.65 during trading hours on Monday, reaching $912.34. The company's stock had a trading volume of 227,016 shares, compared to its average volume of 683,425. BlackRock, Inc. has a 52 week low of $748.78 and a 52 week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm has a market cap of $141.64 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. The company's 50-day moving average is $922.02 and its 200-day moving average is $983.87.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.81 EPS. On average, equities analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.28%. BlackRock's dividend payout ratio is 50.63%.

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.