Indiana Trust & Investment Management Co Lowers Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Indiana Trust & Investment Management Co cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,150 shares of the asset manager’s stock after selling 223 shares during the quarter. BlackRock makes up about 0.7% of Indiana Trust & Investment Management Co’s investment portfolio, making the stock its 29th largest position. Indiana Trust & Investment Management Co’s holdings in BlackRock were worth $2,041,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Mayflower Financial Advisors LLC boosted its position in BlackRock by 24,171.5% during the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after buying an additional 414,300 shares during the period. Vanguard Group Inc. grew its stake in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the last quarter. M&G Plc bought a new stake in shares of BlackRock in the 1st quarter valued at about $161,918,000. Finally, Sarasin & Partners LLP boosted its holdings in BlackRock by 174.8% during the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock valued at $145,096,000 after acquiring an additional 117,218 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.8 %

BlackRock stock traded up $7.65 on Wednesday, hitting $1,014.65. 236,648 shares of the stock traded hands, compared to its average volume of 576,128. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $1,019.22. The firm has a market cap of $150.78 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. 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 business’s fifty day simple moving average is $905.97 and its 200 day simple moving average is $833.68.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm posted $10.91 earnings per share. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Evercore ISI increased their target price on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a report on Monday. Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

Insider Transactions at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on 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 completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,042 shares of company stock worth $56,857,777. Corporate 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.