Spinnaker Trust Has $9.18 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Spinnaker Trust decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,672 shares of the asset manager’s stock after selling 307 shares during the period. Spinnaker Trust’s holdings in BlackRock were worth $9,184,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Donald L. Hagan LLC boosted its position in BlackRock by 4.7% during the 3rd quarter. Donald L. Hagan LLC now owns 1,434 shares of the asset manager’s stock worth $1,362,000 after buying an additional 64 shares during the period. Radnor Capital Management LLC lifted its holdings in shares of BlackRock by 17.2% during the third quarter. Radnor Capital Management LLC now owns 2,339 shares of the asset manager’s stock worth $2,221,000 after purchasing an additional 344 shares during the period. AHL Investment Management Inc. acquired a new stake in BlackRock in the third quarter valued at $216,000. 1834 Investment Advisors Co. raised its position in BlackRock by 2.5% during the 3rd quarter. 1834 Investment Advisors Co. now owns 704 shares of the asset manager’s stock worth $668,000 after purchasing an additional 17 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its holdings in BlackRock by 2.0% during the 3rd quarter. Catalina Capital Group LLC now owns 946 shares of the asset manager’s stock worth $898,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,670,194.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 35,061 shares of company stock worth $30,734,840. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Up 0.2 %

Shares of BLK traded up $1.80 during trading hours on Wednesday, hitting $1,016.15. The stock had a trading volume of 389,592 shares, compared to its average volume of 569,392. BlackRock, Inc. has a 1-year low of $646.91 and a 1-year high of $1,057.51. The firm has a market capitalization of $150.52 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. The firm has a 50 day simple moving average of $944.72 and a 200-day simple moving average of $855.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the firm posted $10.91 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLK. Argus raised their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. UBS Group lowered their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Barclays boosted their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup increased their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.