Charles Schwab Investment Management Inc. Sells 153,079 Shares of BlackRock, Inc. (NYSE:BLK)

Charles Schwab Investment Management Inc. lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,176,471 shares of the asset manager’s stock after selling 153,079 shares during the period. BlackRock accounts for approximately 0.7% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Charles Schwab Investment Management Inc. owned approximately 2.14% of BlackRock worth $2,574,029,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock in the 4th quarter valued at $27,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of 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 acquiring an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of BlackRock during the 4th quarter valued at $32,000. Knuff & Co LLC boosted its holdings in shares of BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.4 %

Shares of BLK traded down $3.38 on Wednesday, reaching $777.54. The company’s stock had a trading volume of 326,094 shares, compared to its average volume of 617,400. 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 $115.81 billion, a PE ratio of 19.71, a PEG ratio of 1.58 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $796.34 and a 200-day moving average of $768.53.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping 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 the consensus estimate of $4.65 billion. During the same period in the prior year, the business posted $7.93 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post 41.19 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on BLK. JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TD Cowen raised 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. Morgan Stanley lifted 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. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the business’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 transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 67,987 shares of company stock worth $55,353,400. Corporate 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.