Trust Co. of Toledo NA OH Boosts Position in BlackRock, Inc. (NYSE:BLK)

Trust Co. of Toledo NA OH increased its stake in BlackRock, Inc. (NYSE:BLK) by 12.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,022 shares of the asset manager’s stock after acquiring an additional 218 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in BlackRock were worth $1,920,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BLK. Capital Research Global Investors increased its stake in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after buying an additional 435,358 shares during the period. Mayflower Financial Advisors LLC increased its stake in BlackRock by 24,171.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after buying an additional 414,300 shares during the period. Vanguard Group Inc. increased its stake in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after buying an additional 292,017 shares during the period. M&G Plc purchased a new position in BlackRock during the 1st quarter valued at about $161,918,000. Finally, Mubadala Investment Co PJSC purchased a new position in BlackRock during the 4th quarter valued at about $147,748,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Wells Fargo & Company assumed coverage on BlackRock in a research report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price target for the company. Citigroup upped their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, StockNews.com assumed coverage on BlackRock in a research note on Thursday, September 26th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $908.60.

BlackRock Price Performance

NYSE BLK opened at $957.25 on Thursday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $885.85 and its two-hundred day simple moving average is $824.58. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $957.28. The firm has a market capitalization of $142.25 billion, a P/E ratio of 24.33, a P/E/G ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm earned $9.28 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 in the last ninety days. Company insiders own 0.90% of the company’s stock.

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.