BlackRock, Inc. (NYSE:BLK) Shares Sold by Trust Asset Management LLC

Trust Asset Management LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,648 shares of the asset manager’s stock after selling 90 shares during the quarter. Trust Asset Management LLC’s holdings in BlackRock were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the fourth quarter valued at about $27,000. LFA Lugano Financial Advisors SA raised its position 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 period. Wetzel Investment Advisors Inc. purchased a new position in BlackRock in the fourth quarter valued at about $32,000. FSC Wealth Advisors LLC purchased a new position in BlackRock in the fourth quarter valued at about $40,000. Finally, Blue Bell Private Wealth Management LLC raised its position in BlackRock by 96.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK traded down $4.96 during midday trading on Thursday, hitting $757.84. 510,117 shares of the company’s stock were exchanged, compared to its average volume of 628,151. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The stock’s 50 day moving average price is $802.70 and its 200-day moving average price is $759.32. The firm has a market cap of $112.87 billion, a P/E ratio of 19.26, a PEG ratio of 1.59 and a beta of 1.37. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.93 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current year.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s 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 owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s 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 owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock worth $66,778,367 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of a number of analyst reports. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research 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 research report on Tuesday, January 16th. 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 report on Friday, April 5th. JPMorgan Chase & Co. boosted 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. Finally, Morgan Stanley boosted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. 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 MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average target price 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.