Sage Mountain Advisors LLC Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Sage Mountain Advisors LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 540 shares of the asset manager’s stock after selling 94 shares during the quarter. Sage Mountain Advisors LLC’s holdings in BlackRock were worth $438,000 at the end of the most recent quarter.

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

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the transaction, the director now owns 70,378 shares in the company, valued at $54,972,959.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Christopher J. Meade sold 3,100 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the transaction, the general counsel now owns 8,628 shares in the company, valued at $6,849,424.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the completion of the sale, the director now owns 70,378 shares in the company, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,511 shares of company stock worth $66,778,367. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 1.3 %

NYSE:BLK opened at $760.05 on Tuesday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The company’s 50-day simple moving average is $804.19 and its 200 day simple moving average is $758.48. The firm has a market capitalization of $113.20 billion, a P/E ratio of 19.32, a PEG ratio of 1.55 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm 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 business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.93 earnings per share. As a group, analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BLK. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley boosted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group boosted their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock 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.