FineMark National Bank & Trust Trims Stock Holdings in BlackRock, Inc. (NYSE:BLK)

FineMark National Bank & Trust lowered its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,214 shares of the asset manager’s stock after selling 320 shares during the quarter. BlackRock accounts for 0.8% of FineMark National Bank & Trust’s portfolio, making the stock its 28th biggest holding. FineMark National Bank & Trust’s holdings in BlackRock were worth $22,772,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BLK. FSA Wealth Management LLC bought a new position in shares of BlackRock in the third quarter worth about $26,000. IAG Wealth Partners LLC purchased a new stake in BlackRock in the 4th quarter valued at about $26,000. Collier Financial bought a new position in BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock during the fourth quarter worth approximately $33,000. Finally, Atwood & Palmer Inc. bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $36,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the sale, the director now owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 20,430 shares of company stock worth $21,234,629 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 1.3 %

NYSE:BLK opened at $964.28 on Tuesday. The firm has a 50 day moving average of $980.97 and a 200 day moving average of $989.75. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The stock has a market capitalization of $149.71 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the firm earned $9.66 EPS. The business’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were paid a dividend of $5.21 per share. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.16%. BlackRock’s payout ratio is presently 49.62%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley raised their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup raised their price target on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Barclays lowered their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.