CHICAGO TRUST Co NA Has $1.37 Million Position in BlackRock $BLK

CHICAGO TRUST Co NA increased its position in shares of BlackRock (NYSE:BLK) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,303 shares of the asset manager’s stock after purchasing an additional 33 shares during the period. CHICAGO TRUST Co NA’s holdings in BlackRock were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BLK. Brighton Jones LLC lifted its holdings in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares during the last quarter. Bison Wealth LLC increased its stake in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after acquiring an additional 17 shares during the period. Toronto Dominion Bank increased its stake in BlackRock by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 51,192 shares of the asset manager’s stock worth $52,475,000 after acquiring an additional 577 shares during the period. Ascent Group LLC increased its stake in BlackRock by 23.5% during the 4th quarter. Ascent Group LLC now owns 2,605 shares of the asset manager’s stock worth $2,670,000 after acquiring an additional 496 shares during the period. Finally, United Advisor Group LLC bought a new position in BlackRock during the 4th quarter worth $662,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLK has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating and set a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Wells Fargo & Company lowered their price objective on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Bank of America lifted their price target on BlackRock from $1,214.00 to $1,224.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Morgan Stanley decreased their price target on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,154.07.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by company insiders.

BlackRock Stock Down 0.6%

BLK stock opened at $1,135.87 on Tuesday. The stock’s 50 day simple moving average is $1,120.31 and its 200 day simple moving average is $1,014.87. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market cap of $175.89 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 2.19 and a beta of 1.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business earned $10.36 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s dividend payout ratio is 50.39%.

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.