Cutler Investment Counsel LLC Decreases Stock Holdings in BlackRock (NYSE:BLK)

Key Points

• Cutler Investment Counsel LLC reduced its holdings in BlackRock by 3.4% during the 1st quarter, owning 18,372 shares worth approximately $17.39 million afterward.
• BlackRock's CEO, Laurence Fink, sold 12,054 shares for over $13.5 million, representing a 4.57% decrease in his ownership.
• BlackRock's recent earnings report showed an EPS of $12.05, exceeding estimates, with a revenue increase of 12.9% year-over-year.

Cutler Investment Counsel LLC trimmed its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,372 shares of the asset manager's stock after selling 652 shares during the quarter. BlackRock makes up about 2.1% of Cutler Investment Counsel LLC's investment portfolio, making the stock its 15th largest holding. Cutler Investment Counsel LLC's holdings in BlackRock were worth $17,388,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BLK. Brighton Jones LLC boosted its position in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after purchasing an additional 296 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in shares of BlackRock by 155.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 10,078 shares of the asset manager's stock worth $10,331,000 after purchasing an additional 6,137 shares during the period. HighPoint Advisor Group LLC boosted its position in shares of BlackRock by 7.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,232 shares of the asset manager's stock worth $2,228,000 after purchasing an additional 162 shares during the period. National Bank of Canada FI boosted its position in shares of BlackRock by 3.1% in the fourth quarter. National Bank of Canada FI now owns 145,012 shares of the asset manager's stock worth $148,656,000 after purchasing an additional 4,299 shares during the period. Finally, Gibson Capital LLC boosted its position in shares of BlackRock by 23.5% in the fourth quarter. Gibson Capital LLC now owns 263 shares of the asset manager's stock worth $270,000 after purchasing an additional 50 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

BlackRock stock traded down $14.72 during mid-day trading on Friday, reaching $1,091.29. 672,794 shares of the company's stock traded hands, compared to its average volume of 784,457. The stock has a 50 day moving average of $1,038.13 and a two-hundred day moving average of $980.77. 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 company has a market cap of $169.07 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.25 and a beta of 1.41. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) 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 firm had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.36 earnings per share. Equities analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be issued a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock's dividend payout ratio is presently 50.39%.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at $296,002,472.28. This represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,352 shares of company stock worth $55,486,962. Insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several research analyst reports. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. UBS Group reissued a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Morgan Stanley lowered their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Finally, Bank of America boosted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,151.21.

BlackRock Company 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.