Massmutual Trust Co. FSB ADV Trims Position in BlackRock, Inc. (NYSE:BLK)

Massmutual Trust Co. FSB ADV trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 5.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,856 shares of the asset manager’s stock after selling 1,228 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in BlackRock were worth $21,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Trust Co. of Toledo NA OH raised its holdings in shares of BlackRock by 12.1% in the third quarter. Trust Co. of Toledo NA OH now owns 2,022 shares of the asset manager’s stock valued at $1,920,000 after buying an additional 218 shares during the last quarter. Weybosset Research & Management LLC purchased a new stake in shares of BlackRock in the third quarter valued at about $218,000. Abacus Planning Group Inc. raised its holdings in BlackRock by 4.9% during the third quarter. Abacus Planning Group Inc. now owns 340 shares of the asset manager’s stock worth $323,000 after purchasing an additional 16 shares in the last quarter. Neville Rodie & Shaw Inc. raised its holdings in BlackRock by 5.1% during the third quarter. Neville Rodie & Shaw Inc. now owns 518 shares of the asset manager’s stock worth $492,000 after purchasing an additional 25 shares in the last quarter. Finally, Ashburton Jersey Ltd purchased a new position in BlackRock during the second quarter worth about $61,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,042 shares of company stock valued at $79,387,117. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BLK shares. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen lowered their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $908.60.

BlackRock Stock Performance

NYSE:BLK opened at $957.25 on Thursday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap 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, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $957.28. The firm’s 50 day moving average is $885.85 and its two-hundred day moving average is $824.58.

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

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

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.