Chevy Chase Trust Holdings LLC Sells 161 Shares of BlackRock (NYSE:BLK)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of BlackRock (NYSE:BLK) by 0.2% in the 1st quarter, Holdings Channel reports. The firm owned 80,937 shares of the asset manager’s stock after selling 161 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in BlackRock were worth $76,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC bought a new stake in shares of BlackRock during the fourth quarter worth $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the fourth quarter worth $30,000. Synergy Investment Management LLC bought a new stake in shares of BlackRock during the fourth quarter worth $40,000. Curio Wealth LLC bought a new stake in shares of BlackRock during the fourth quarter worth $41,000. Finally, Cedar Wealth Management LLC bought a new stake in shares of BlackRock during the fourth quarter worth $43,000. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director now owns 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BLK. Wall Street Zen upgraded BlackRock to a “hold” rating in a report on Saturday, May 24th. Citigroup decreased their price objective on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, April 14th. TD Cowen decreased their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price objective on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Bank of America decreased their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,096.31.

BlackRock Stock Performance

Shares of BlackRock stock opened at $986.31 on Tuesday. The company has a market capitalization of $152.81 billion, a PE ratio of 23.96, a P/E/G ratio of 2.96 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The company has a 50-day simple moving average of $950.45 and a two-hundred day simple moving average of $969.00. BlackRock has a one year low of $773.74 and a one year high of $1,084.22.

BlackRock (NYSE:BLK) last announced its earnings results 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 business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $9.81 earnings per share. Research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.11%. BlackRock’s payout ratio is 50.63%.

About BlackRock

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.