Trail Ridge Investment Advisors LLC Has $2.04 Million Stock Holdings in BlackRock (NYSE:BLK)

Trail Ridge Investment Advisors LLC decreased its holdings in shares of BlackRock (NYSE:BLKFree Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,159 shares of the asset manager’s stock after selling 26 shares during the quarter. BlackRock makes up 1.1% of Trail Ridge Investment Advisors LLC’s holdings, making the stock its 24th biggest position. Trail Ridge Investment Advisors LLC’s holdings in BlackRock were worth $2,043,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Prudent Man Advisors LLC acquired a new stake in shares of BlackRock during the first quarter worth $2,018,000. Polar Capital Holdings Plc acquired a new stake in shares of BlackRock during the fourth quarter worth $15,307,000. Community Financial Services Group LLC lifted its holdings in shares of BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock worth $5,397,000 after buying an additional 836 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of BlackRock during the first quarter worth $40,868,000. Finally, Weil Company Inc. lifted its holdings in shares of BlackRock by 194.6% during the first quarter. Weil Company Inc. now owns 2,074 shares of the asset manager’s stock worth $1,963,000 after buying an additional 1,370 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director directly owned 66,034 shares of the company’s stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

NYSE:BLK opened at $1,102.63 on Monday. The stock has a market cap of $170.83 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.22 and a beta of 1.41. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average is $996.68 and its 200-day moving average is $970.45. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,105.72.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $9.81 earnings per share. Equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Thursday, June 5th. BlackRock’s dividend payout ratio is currently 50.63%.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. Bank of America decreased their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Argus restated a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group raised their price target on BlackRock from $959.00 to $1,210.00 in a research report on Thursday. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, UBS Group restated a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,132.29.

Read Our Latest Research Report on BLK

BlackRock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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