Penobscot Investment Management Company Inc. Sells 235 Shares of BlackRock, Inc. (NYSE:BLK)

Penobscot Investment Management Company Inc. lessened its stake in BlackRock, Inc. (NYSE:BLK) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,826 shares of the asset manager’s stock after selling 235 shares during the period. Penobscot Investment Management Company Inc.’s holdings in BlackRock were worth $3,918,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BLK. Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock in the 4th quarter valued at about $27,000. LFA Lugano Financial Advisors SA grew its position in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at about $32,000. Exchange Traded Concepts LLC boosted its position in shares of BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 47 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter valued at about $40,000. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, insider Marc D. Comerchero sold 450 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Marc D. Comerchero sold 450 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the sale, the director now directly owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock valued at $66,778,367 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on BLK shares. Morgan Stanley upped their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Down 0.7 %

Shares of BlackRock stock traded down $5.21 on Tuesday, hitting $756.07. The company had a trading volume of 120,830 shares, compared to its average volume of 618,134. The stock has a market capitalization of $112.61 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The stock has a 50 day moving average of $801.42 and a 200-day moving average of $762.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.93 earnings per share. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current year.

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.