Trust Co. of Vermont Sells Shares of BlackRock, Inc.

Trust Co. of Vermont has reduced its stake in BlackRock, Inc. (NYSE:BLK) by 1.9% during the fourth quarter, as per their latest report to the SEC. After selling 557 shares in this period, the firm now holds 28,782 shares of the asset management company. This investment constitutes about 1.4% of Trust Co. of Vermont's portfolio, ranking it as the 13th largest investment. The total value of their holdings in BlackRock was approximately $29,505,000 at the conclusion of the last quarter.

Recent Developments in BlackRock

The company has also made notable acquisitions recently, including a significant $12 billion private credit acquisition. Additionally, numerous other institutional investors have been active in trading BlackRock shares. For instance, FSA Wealth Management LLC acquired a new stake worth about $26,000 in the third quarter, while Fairscale Capital LLC made a new investment valued at around $31,000 in the second quarter. Other firms like Reston Wealth Management LLC and MFA Wealth Advisors LLC have also increased their exposure to BlackRock during this timeframe. Overall, institutional investors own 80.69% of the company's stock.

Current Market Performance

On Friday, BlackRock shares experienced a 0.9% increase, trading at $1,004.23, with a total of 1,079,196 shares changing hands. This volume surpassed the average trading volume of 610,586 shares. BlackRock's current market capitalization stands at $155.54 billion, with a PE ratio of 24.78 and a beta of 1.28. The stock's 50-day moving average is $1,028.03, while its 200-day moving average is $944.64. Over the past year, BlackRock's stock hit a low of $745.55 and a high of $1,082.45.

BlackRock's Earnings Report and Dividends

On January 15th, BlackRock announced its quarterly earnings, reporting earnings per share (EPS) of $11.93, surpassing analysts' expectations of $11.52. The company's revenues reached $5.68 billion, also exceeding the forecast of $5.57 billion. Notably, BlackRock enjoyed a net margin of 31.37% and a return on equity of 15.52%, with annual revenue growth of 22.6% compared to the previous year, up from $9.66 EPS the year before. Looking forward, analysts project an EPS of 43.02 for the current year.

BlackRock has also declared a quarterly dividend that was paid out on December 23rd, with a distribution of $5.10 per share to shareholders recorded as of December 5th. This represents an annualized dividend of $20.40, yielding 2.03%. The dividend payout ratio is currently 50.35%.

Analyst Ratings and Price Targets

Various analysts have recently updated their price targets for BlackRock shares. TD Cowen raised their target from $960.00 to $1,077.00, giving stock a "buy" rating. Similarly, Evercore ISI increased their target to $1,160.00, while Citigroup elevated their target to $1,200.00. Wells Fargo also boosted their target to $1,175.00. With three analysts rating the stock as a hold and ten as a buy, the overall average rating stands at "Moderate Buy" with a consensus price target of $1,103.33.

Insider Transactions at BlackRock

Recent insider transactions have also caught attention. COO Robert L. Goldstein sold 54,000 shares at an average price of $1,046.03 on December 5th, which amounted to a total of $56,485,620. Following this, he retains 41,916 shares valued at approximately $43.85 million, marking a significant decrease in his holdings. Furthermore, director Mark Wiedman sold 36,190 shares at an average price of $1,045.90, totaling about $37.85 million. Insiders currently hold 0.90% of the company's shares.

About BlackRock

BlackRock, Inc. operates as a publicly owned investment manager. The firm primarily offers its services to a diverse client base, including institutional and intermediary investors as well as individual clients. They manage assets for pension funds, insurance companies, third-party mutual funds, endowments, and other public institutions.

TrustCo, BlackRock, Investment