BlackRock (NYSE:BLK) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont cut its stake in BlackRock (NYSE:BLK - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,052 shares of the asset manager's stock after selling 730 shares during the period. BlackRock accounts for approximately 1.3% of Trust Co. of Vermont's investment portfolio, making the stock its 15th largest holding. Trust Co. of Vermont's holdings in BlackRock were worth $26,551,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in BlackRock by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after buying an additional 4,210 shares during the period. Polar Capital Holdings Plc bought a new position in shares of BlackRock in the fourth quarter worth $15,307,000. Community Financial Services Group LLC grew its stake in shares of BlackRock by 17.2% in the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after purchasing an additional 836 shares in the last quarter. Kennedy Investment Group bought a new position in shares of BlackRock in the first quarter worth $568,000. Finally, State of Alaska Department of Revenue grew its stake in shares of BlackRock by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 17,057 shares of the asset manager's stock worth $16,144,000 after purchasing an additional 457 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BLK shares. Morgan Stanley decreased their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Citigroup decreased their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. TD Cowen decreased their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Barclays increased their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Finally, Argus upped their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,096.31.

BlackRock Trading Up 1.3%

Shares of NYSE BLK opened at $1,031.38 on Friday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22. The company has a market cap of $159.79 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 3.09 and a beta of 1.41. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $958.92 and a 200-day simple moving average of $969.49.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the business posted $9.81 earnings per share. BlackRock's revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio is 50.63%.

Insider Activity

In related news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares of the company's stock, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.