Cambridge Trust Co. Has $14.47 Million Stake in BlackRock, Inc. (NYSE:BLK)

Cambridge Trust Co. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 43.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,824 shares of the asset manager’s stock after selling 13,904 shares during the period. Cambridge Trust Co.’s holdings in BlackRock were worth $14,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in shares of BlackRock during the first quarter worth $115,000. United Bank boosted its holdings in BlackRock by 17.1% in the first quarter. United Bank now owns 1,287 shares of the asset manager’s stock valued at $983,000 after acquiring an additional 188 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in BlackRock by 2.6% in the first quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock valued at $1,512,000 after acquiring an additional 51 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in BlackRock by 35.4% in the first quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock valued at $783,000 after acquiring an additional 268 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in BlackRock by 11.7% in the first quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock valued at $1,110,000 after acquiring an additional 152 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the sale, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,511 shares of company stock worth $71,864,028. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

NYSE BLK traded down $3.86 during midday trading on Thursday, hitting $749.93. The company had a trading volume of 363,823 shares, compared to its average volume of 623,826. The company has a market capitalization of $111.69 billion, a PE ratio of 19.33, a P/E/G ratio of 1.55 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $806.88 and a 200-day moving average price of $755.19. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the firm earned $7.93 EPS. BlackRock’s revenue was up 11.4% on a year-over-year basis. As a group, analysts anticipate that BlackRock, Inc. will post 41.26 earnings per share for the current fiscal 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.