BlackRock, Inc. (NYSE:BLK) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,519 shares of the asset manager’s stock after selling 278 shares during the quarter. Eagle Ridge Investment Management’s holdings in BlackRock were worth $11,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new position in BlackRock in the 4th quarter worth approximately $27,000. LFA Lugano Financial Advisors SA increased its stake 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 worth $30,000 after acquiring an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in BlackRock during the fourth quarter worth $32,000. Exchange Traded Concepts LLC increased its position in 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 buying an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in BlackRock during the fourth quarter worth $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

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

BlackRock Trading Down 0.4 %

Shares of NYSE BLK traded down $2.74 during trading hours on Monday, hitting $760.14. The company’s stock had a trading volume of 237,889 shares, compared to its average volume of 621,080. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The stock has a market cap of $113.22 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The business has a 50-day simple moving average of $802.08 and a 200-day simple moving average of $761.81.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) 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 analyst estimates of $4.65 billion. During the same period last year, the business earned $7.93 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. On average, analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated 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 completion of the sale, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock valued at $66,778,367 over the last 90 days. 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.