BlackRock, Inc. (NYSE:BLK) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 27.7% in the fourth quarter, Holdings Channel reports. The fund owned 3,017 shares of the asset manager’s stock after selling 1,155 shares during the period. BlackRock accounts for about 1.0% of Tranquility Partners LLC’s portfolio, making the stock its 24th biggest position. Tranquility Partners LLC’s holdings in BlackRock were worth $2,450,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock during the 4th quarter worth approximately $27,000. LFA Lugano Financial Advisors SA lifted its position in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the period. Tyler Stone Wealth Management acquired a new stake in BlackRock during the 2nd quarter worth approximately $33,000. Exchange Traded Concepts LLC lifted its position in BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after acquiring an additional 47 shares during the period. Finally, FSC Wealth Advisors LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $40,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the sale, the general counsel now owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the sale, the general counsel now owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction 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 owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,511 shares of company stock worth $71,864,028. 0.90% of the stock is owned by insiders.

BlackRock Price Performance

NYSE BLK traded up $4.08 during mid-day trading on Wednesday, hitting $753.75. The stock had a trading volume of 585,432 shares, compared to its average volume of 627,427. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a market cap of $112.26 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.53 and a beta of 1.37. The company has a 50 day simple moving average of $807.70 and a 200 day simple moving average of $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.

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. The firm had revenue of $4.73 billion for 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%. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.93 EPS. Equities analysts forecast that BlackRock, Inc. will post 41.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BLK shares. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group increased their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley increased their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reissued 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. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $811.43.

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.