BlackRock, Inc. (NYSE:BLK) Position Lessened by SVB Wealth LLC

SVB Wealth LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 18.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,370 shares of the asset manager’s stock after selling 2,738 shares during the period. SVB Wealth LLC’s holdings in BlackRock were worth $10,042,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock in the 4th quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA increased its position in BlackRock by 208.3% in 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 during the period. Tyler Stone Wealth Management acquired a new stake in BlackRock in the 2nd quarter valued at approximately $33,000. Exchange Traded Concepts LLC increased its position in BlackRock by 671.4% in 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 during the period. Finally, FSC Wealth Advisors LLC acquired a new position in shares of BlackRock during the 4th quarter valued at $40,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BLK. Morgan Stanley lifted their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group lifted their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. lifted 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 restated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, TD Cowen upgraded 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $811.43.

Insider Activity

In other news, Director Rachel Lord sold 36,059 shares of the company’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 sale, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Rachel Lord sold 36,059 shares of the company’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 sale, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the sale, the insider now owns 5,975 shares in the company, valued at $4,691,032.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,511 shares of company stock worth $71,864,028. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Down 1.8 %

Shares of BLK opened at $749.02 on Wednesday. The stock’s 50-day moving average price is $807.70 and its 200 day moving average price is $755.20. 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 market capitalization of $111.56 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.53 and a beta of 1.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

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. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.93 EPS. As a group, research analysts predict that BlackRock, Inc. will post 41.41 earnings per share for the current year.

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.