Concord Wealth Partners Sells 243 Shares of BlackRock, Inc. (NYSE:BLK)

Concord Wealth Partners lessened its position in BlackRock, Inc. (NYSE:BLK) by 24.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 745 shares of the asset manager’s stock after selling 243 shares during the period. Concord Wealth Partners’ holdings in BlackRock were worth $605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BLK. International Assets Investment Management LLC lifted its position in shares of BlackRock by 77,524.5% in the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after purchasing an additional 641,128 shares during the period. FMR LLC lifted its position in shares of BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after purchasing an additional 379,631 shares during the period. Invesco Ltd. lifted its position in BlackRock by 84.4% during the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock valued at $481,486,000 after acquiring an additional 340,792 shares during the period. Wellington Management Group LLP lifted its position in BlackRock by 21.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after acquiring an additional 307,516 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in BlackRock by 24.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock valued at $461,446,000 after acquiring an additional 139,570 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on BLK shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley lifted 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 lifted 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. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $819.00 to $938.00 in a research 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 company a “neutral” rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Buying and Selling at BlackRock

In other BlackRock news, CFO Martin Small sold 7,036 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total transaction of $5,532,828.96. Following the completion of the sale, the chief financial officer now directly owns 5,259 shares of the company’s stock, valued at $4,135,467.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Martin Small sold 7,036 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 5,259 shares of the company’s stock, valued at $4,135,467.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,093 shares of company stock valued at $64,108,533. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.5 %

BLK opened at $750.90 on Thursday. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The stock has a market capitalization of $111.84 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.56 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $799.47 and a 200-day moving average price of $763.50.

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

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.