Montecito Bank & Trust Decreases Position in BlackRock, Inc. (NYSE:BLK)

Montecito Bank & Trust lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.5% during the third quarter, Holdings Channel reports. The fund owned 1,830 shares of the asset manager’s stock after selling 27 shares during the period. Montecito Bank & Trust’s holdings in BlackRock were worth $1,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fairscale Capital LLC purchased a new stake in BlackRock during the 2nd quarter worth about $31,000. Reston Wealth Management LLC purchased a new position in BlackRock in the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC raised its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of BlackRock during the 1st quarter worth approximately $38,000. Finally, City Holding Co. acquired a new position in shares of BlackRock in the 3rd quarter valued at $55,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BLK shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods raised their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com initiated coverage on shares of BlackRock in a research report on Tuesday. They set a “hold” rating on the stock. Finally, TD Cowen increased their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,004.54.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,670,194.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 35,061 shares of company stock valued at $30,734,840 in the last 90 days. 0.90% of the stock is currently owned by insiders.

BlackRock Trading Up 1.5 %

BlackRock stock opened at $1,029.82 on Thursday. The stock has a market cap of $152.55 billion, a PE ratio of 25.42, a P/E/G ratio of 1.77 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 stock has a 50-day moving average price of $947.54 and a 200 day moving average price of $857.04. BlackRock, Inc. has a 52 week low of $646.91 and a 52 week high of $1,057.51.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm posted $10.91 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal year.

BlackRock Company 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.