BlackRock, Inc. (NYSE:BLK) Stock Position Lowered by Sandhill Capital Partners LLC

Sandhill Capital Partners LLC lessened its position in BlackRock, Inc. (NYSE:BLK) by 8.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,887 shares of the asset manager’s stock after selling 673 shares during the quarter. BlackRock makes up about 0.5% of Sandhill Capital Partners LLC’s holdings, making the stock its 27th biggest holding. Sandhill Capital Partners LLC’s holdings in BlackRock were worth $5,591,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Emerald Advisors LLC increased its stake in BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after buying an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in BlackRock by 1.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after buying an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. increased its stake in BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in BlackRock in the 4th quarter valued at approximately $439,000. Finally, Patten & Patten Inc. TN acquired a new position in BlackRock in the 4th quarter valued at approximately $205,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the completion of the transaction, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the completion of the transaction, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc D. Comerchero sold 450 shares of BlackRock 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 transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,511 shares of company stock worth $66,778,367. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BLK. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Morgan Stanley raised their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Price Performance

Shares of BlackRock stock traded down $4.96 during trading on Thursday, hitting $757.84. 510,117 shares of the company’s stock traded hands, 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 firm’s fifty day moving average price is $803.50 and its 200 day moving average price is $759.33. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a market cap of $112.87 billion, a PE ratio of 19.07, a PEG ratio of 1.59 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share 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 business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the business earned $7.93 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current year.

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.