Canandaigua National Bank & Trust Co. Has $5.88 Million Stock Holdings in BlackRock $BLK

Canandaigua National Bank & Trust Co. lifted its position in shares of BlackRock (NYSE:BLK) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,039 shares of the asset manager’s stock after purchasing an additional 728 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in BlackRock were worth $5,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of BlackRock by 23.1% during the fourth 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 period. Bison Wealth LLC raised its position 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 purchasing an additional 17 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in BlackRock by 42.1% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 1,067 shares of the asset manager’s stock worth $1,010,000 after buying an additional 316 shares during the period. Aviso Financial Inc. grew its position in shares of BlackRock by 11.7% in the 1st quarter. Aviso Financial Inc. now owns 1,243 shares of the asset manager’s stock valued at $1,176,000 after buying an additional 130 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC increased its stake in shares of BlackRock by 14.5% in the first quarter. Watts Gwilliam & Co. LLC now owns 402 shares of the asset manager’s stock valued at $380,000 after buying an additional 51 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BLK. TD Cowen lifted their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Bank of America boosted their price target on shares of BlackRock from $1,456.00 to $1,464.00 in a research report on Wednesday, December 10th. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,390.00 to $1,322.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group reiterated a “buy” rating and set a $1,313.00 price objective on shares of BlackRock in a research report on Tuesday, December 9th. Finally, Evercore ISI boosted their target price on shares of BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,314.94.

BlackRock Stock Performance

NYSE:BLK opened at $1,068.55 on Wednesday. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a fifty day moving average of $1,088.21 and a 200-day moving average of $1,090.52. The firm has a market capitalization of $165.78 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.69 and a beta of 1.47.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the previous year, the business posted $11.46 earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be paid a $5.21 dividend. The ex-dividend date is Friday, December 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.0%. BlackRock’s dividend payout ratio (DPR) is currently 53.59%.

Insider Buying and Selling

In other news, CFO Martin Small sold 1,258 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the completion of the sale, the chief financial officer owned 6,209 shares in the company, valued at $6,478,346.42. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.98% of the stock is currently owned by corporate insiders.

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.