Cutler Investment Counsel LLC Has $19.25 Million Stock Position in BlackRock $BLK

Cutler Investment Counsel LLC trimmed its position in BlackRock (NYSE:BLK) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,345 shares of the asset manager’s stock after selling 27 shares during the quarter. BlackRock makes up 2.1% of Cutler Investment Counsel LLC’s portfolio, making the stock its 14th biggest position. Cutler Investment Counsel LLC’s holdings in BlackRock were worth $19,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. acquired a new stake in BlackRock in the first quarter worth about $7,331,000. Prudent Man Advisors LLC acquired a new stake in BlackRock in the first quarter worth about $2,018,000. Allianz SE increased its position in BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System bought a new position in BlackRock during the first quarter worth about $40,868,000. Finally, Community Financial Services Group LLC boosted its holdings in 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 during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BLK shares. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $1,221.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Wells Fargo & Company reduced their target price on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Argus restated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Morgan Stanley raised their target price on BlackRock from $1,224.00 to $1,362.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,263.31.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the business’s 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 transaction of $19,207,611.00. Following the transaction, the director owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock worth $74,694,573 in the last 90 days. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Up 2.1%

Shares of BlackRock stock opened at $1,156.20 on Tuesday. The business’s 50 day simple moving average is $1,135.66 and its 200 day simple moving average is $1,037.02. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,184.13. The firm has a market cap of $179.04 billion, a PE ratio of 27.95, a P/E/G ratio of 2.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $5.40 billion. During the same quarter last year, the firm earned $10.36 EPS. BlackRock’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

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.