BlackRock, Inc. (NYSE:BLK) Position Reduced by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% during the fourth quarter, HoldingsChannel reports. The fund owned 4,583 shares of the asset manager’s stock after selling 47 shares during the quarter. Transcend Capital Advisors LLC’s holdings in BlackRock were worth $3,720,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the fourth quarter worth $27,000. LFA Lugano Financial Advisors SA raised its holdings in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth $32,000. Exchange Traded Concepts LLC raised its holdings in shares of BlackRock by 671.4% during the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after purchasing an additional 47 shares during the period. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of BlackRock during the fourth quarter worth $40,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Trading Up 0.7 %

Shares of BlackRock stock traded up $5.23 during trading on Friday, hitting $762.88. The stock had a trading volume of 447,939 shares, compared to its average volume of 683,111. The stock has a 50 day simple moving average of $802.08 and a 200 day simple moving average of $760.15. The company has a market capitalization of $113.62 billion, a PE ratio of 19.39, a P/E/G ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $7.93 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BLK shares. UBS Group increased their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now directly owns 5,975 shares in the company, valued at $4,691,032.25. The disclosure for this sale can be found here. Insiders have sold a total of 82,511 shares of company stock valued at $66,778,367 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

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.