St. Louis Trust Co Reduces Position in BlackRock, Inc. (NYSE:BLK)

St. Louis Trust Co decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 13.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,600 shares of the asset manager’s stock after selling 243 shares during the period. St. Louis Trust Co’s holdings in BlackRock were worth $1,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter valued at $31,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock in the third quarter valued at $37,000. MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the period. Addison Advisors LLC lifted its holdings in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in BlackRock in the 3rd quarter worth about $54,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,049.97 on Tuesday. The firm has a market capitalization of $162.62 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.87 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. BlackRock, Inc. has a 12 month low of $712.11 and a 12 month high of $1,068.34. The business’s 50-day moving average price is $972.48 and its 200-day moving average price is $873.69.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned $10.91 earnings per share. Sell-side analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BLK. The Goldman Sachs Group raised their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Morgan Stanley boosted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Buying and Selling

In related 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 completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This represents a 64.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by corporate insiders.

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.