BlackRock, Inc. (NYSE:BLK) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in BlackRock, Inc. (NYSE:BLK) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,594 shares of the asset manager’s stock after selling 1,824 shares during the period. Amalgamated Bank’s holdings in BlackRock were worth $28,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the fourth quarter worth about $27,000. LFA Lugano Financial Advisors SA raised its position in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of BlackRock in the 4th quarter valued at $32,000. Exchange Traded Concepts LLC increased its stake in shares of BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after acquiring an additional 47 shares during the period. Finally, FSC Wealth Advisors LLC purchased a new position in shares of BlackRock during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BLK shares. Morgan Stanley increased their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. 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 report on Tuesday, January 16th. UBS Group boosted their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Trading Up 0.7 %

BLK traded up $5.42 on Thursday, hitting $757.00. The company had a trading volume of 632,387 shares, compared to its average volume of 621,895. 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 market cap of $112.75 billion, a P/E ratio of 19.13, a PEG ratio of 1.56 and a beta of 1.37. The company’s fifty day moving average price is $799.47 and its 200 day moving average price is $763.50. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the firm earned $7.93 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In other news, CFO Martin Small sold 7,036 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $786.36, for a total transaction of $5,532,828.96. Following the sale, the chief financial officer now owns 5,259 shares of the company’s stock, valued at $4,135,467.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director J. Richard Kushel sold 520 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $784.69, for a total value of $408,038.80. Following the completion of the sale, the director now directly owns 4,150 shares of the company’s stock, valued at $3,256,463.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Martin Small sold 7,036 shares of BlackRock stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $786.36, for a total value of $5,532,828.96. Following the sale, the chief financial officer now owns 5,259 shares in the company, valued at approximately $4,135,467.24. The disclosure for this sale can be found here. Insiders sold 79,093 shares of company stock valued at $64,108,533 in the last 90 days. Company insiders own 0.90% of the company’s stock.

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.