BlackRock, Inc. (NYSE:BLK) Shares Sold by Tilt Investment Management Holdings PBC

Tilt Investment Management Holdings PBC cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 27.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 567 shares of the asset manager’s stock after selling 212 shares during the period. Tilt Investment Management Holdings PBC’s holdings in BlackRock were worth $460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Flossbach Von Storch AG increased its position in shares of BlackRock by 1.3% during the fourth quarter. Flossbach Von Storch AG now owns 335,827 shares of the asset manager’s stock worth $272,624,000 after purchasing an additional 4,308 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of BlackRock by 70.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 332 shares of the asset manager’s stock valued at $270,000 after buying an additional 137 shares during the period. Daiwa Securities Group Inc. increased its stake in BlackRock by 1.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,459 shares of the asset manager’s stock worth $11,738,000 after acquiring an additional 168 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in BlackRock in the 4th quarter valued at about $44,000. Finally, Sfmg LLC boosted its position in shares of BlackRock by 2.3% during the 4th quarter. Sfmg LLC now owns 4,774 shares of the asset manager’s stock worth $3,875,000 after purchasing an additional 106 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

NYSE BLK traded down $3.64 on Thursday, hitting $750.15. The stock had a trading volume of 386,740 shares, compared to its average volume of 624,040. The company’s 50-day moving average is $806.88 and its two-hundred day moving average is $755.19. The stock has a market cap of $111.73 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.55 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. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.93 EPS. On average, analysts expect that BlackRock, Inc. will post 41.26 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was 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 in the company, valued at $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction 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 sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLK. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group increased their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Morgan Stanley boosted 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $845.42.

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.