BlackRock, Inc. (NYSE:BLK) Stake Reduced by AlTi Global Inc.

AlTi Global Inc. decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,947 shares of the asset manager’s stock after selling 135 shares during the period. AlTi Global Inc.’s holdings in BlackRock were worth $1,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. IAG Wealth Partners LLC purchased a new position in BlackRock during the 4th quarter worth approximately $26,000. Collier Financial purchased a new stake in BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc acquired a new stake in BlackRock during the 4th quarter worth about $33,000. Atwood & Palmer Inc. purchased a new position in BlackRock during the 4th quarter valued at about $36,000. Finally, West Financial Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at about $39,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BLK shares. TD Cowen lowered their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Bank of America lowered their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,077.08.

BlackRock Stock Up 1.3 %

BlackRock stock opened at $928.47 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The firm has a fifty day moving average price of $916.68 and a two-hundred day moving average price of $981.14. The firm has a market cap of $144.15 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 1.90 and a beta of 1.38.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.81 EPS. As a group, analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current year.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company’s stock, valued at $56,261,628.34. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is owned by company insiders.

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.