Capital City Trust Co. FL Cuts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Capital City Trust Co. FL reduced its stake in BlackRock, Inc. (NYSE:BLK) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,659 shares of the asset manager’s stock after selling 177 shares during the quarter. BlackRock accounts for 2.2% of Capital City Trust Co. FL’s portfolio, making the stock its 10th largest position. Capital City Trust Co. FL’s holdings in BlackRock were worth $8,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BLK. Oddo BHF Asset Management Sas bought a new stake in BlackRock during the 3rd quarter worth about $518,000. Erste Asset Management GmbH bought a new stake in BlackRock during the 3rd quarter worth about $32,904,000. Raymond James Trust N.A. lifted its position in BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after buying an additional 614 shares in the last quarter. MML Investors Services LLC lifted its position in BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after buying an additional 1,852 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after buying an additional 565 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. This represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock worth $115,163,141 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.5 %

Shares of BLK opened at $974.97 on Friday. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The firm has a market cap of $151.00 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 1.89 and a beta of 1.28. The firm’s 50-day simple moving average is $1,011.61 and its 200 day simple moving average is $977.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business posted $9.66 EPS. The business’s revenue was up 22.6% compared to the same quarter last year. On average, analysts forecast that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is presently 49.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BLK shares. Morgan Stanley boosted their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI boosted their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays lowered their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

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.