NBW Capital LLC Reduces Position in BlackRock, Inc. (NYSE:BLK)

NBW Capital LLC trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 4.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 343 shares of the asset manager’s stock after selling 15 shares during the period. NBW Capital LLC’s holdings in BlackRock were worth $278,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in BLK. Tennessee Valley Asset Management Partners purchased a new stake in BlackRock in the fourth quarter valued at $27,000. LFA Lugano Financial Advisors SA boosted its holdings in 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 purchasing an additional 25 shares during the last quarter. Tyler Stone Wealth Management purchased a new stake in BlackRock in the second quarter valued at $33,000. Exchange Traded Concepts LLC boosted its holdings in BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in BlackRock in the fourth quarter valued at $40,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

In related news, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,511 shares of company stock valued at $71,864,028. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK traded down $2.28 during mid-day trading on Thursday, hitting $751.51. 354,235 shares of the company were exchanged, compared to its average volume of 623,679. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. 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 company has a 50 day moving average of $806.88 and a 200-day moving average of $755.19. The stock has a market cap of $111.93 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the company earned $7.93 EPS. BlackRock’s revenue was up 11.4% compared to the same quarter last year. Analysts expect that BlackRock, Inc. will post 41.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BLK shares. UBS Group upped their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday. Three 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 currently has a consensus 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.