Spinnaker Trust Has $8.31 Million Holdings in BlackRock (NYSE:BLK)

Spinnaker Trust trimmed its position in BlackRock (NYSE:BLK - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,784 shares of the asset manager's stock after selling 670 shares during the quarter. Spinnaker Trust's holdings in BlackRock were worth $8,314,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in BlackRock by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after acquiring an additional 68,405 shares during the period. Capital World Investors lifted its position in shares of BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares during the period. Geode Capital Management LLC grew its position in BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after purchasing an additional 190,188 shares in the last quarter. Finally, FMR LLC increased its stake in BlackRock by 1.1% in the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after buying an additional 26,485 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the transaction, the director now owns 66,034 shares in the company, valued at approximately $56,261,628.34. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company's stock.

BlackRock Price Performance

NYSE BLK opened at $1,049.35 on Monday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The company has a fifty day simple moving average of $962.39 and a 200 day simple moving average of $968.13. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The company has a market cap of $162.58 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.18 and a beta of 1.41.

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

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.

Analyst Upgrades and Downgrades

BLK has been the topic of several research analyst reports. Barclays boosted their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Citigroup lowered their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group cut their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. TD Cowen lowered 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. Finally, JPMorgan Chase & Co. dropped their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,102.08.

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.

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