DT Investment Partners LLC Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

DT Investment Partners LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,535 shares of the asset manager’s stock after selling 108 shares during the quarter. DT Investment Partners LLC’s holdings in BlackRock were worth $1,982,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new position in BlackRock during the 4th quarter valued at about $27,000. LFA Lugano Financial Advisors SA increased 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 valued at $30,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in BlackRock during the 4th quarter valued at about $32,000. Tyler Stone Wealth Management acquired a new position in shares of BlackRock in the second quarter valued at about $33,000. Finally, Exchange Traded Concepts LLC increased its holdings 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 valued at $35,000 after purchasing an additional 47 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of NYSE BLK traded up $2.68 during midday trading on Friday, hitting $749.98. The stock had a trading volume of 867,880 shares, compared to its average volume of 641,054. The company has a market capitalization of $111.70 billion, a PE ratio of 19.06, a P/E/G ratio of 1.55 and a beta of 1.37. The stock has a 50 day simple moving average of $805.02 and a 200-day simple moving average of $755.87. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. 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 (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm earned $7.93 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at BlackRock

In related news, Director Stephen Cohen sold 950 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is currently owned by insiders.

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.