Truist Financial Corp Has $266.51 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Truist Financial Corp cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 18.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,293 shares of the asset manager’s stock after selling 74,263 shares during the quarter. Truist Financial Corp’s holdings in BlackRock were worth $266,508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley raised its holdings in BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after acquiring an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in BlackRock by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after purchasing an additional 35,161 shares in the last quarter. FMR LLC lifted its position in BlackRock by 22.0% during the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after purchasing an additional 379,631 shares during the period. Wellington Management Group LLP grew its stake in BlackRock by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after buying an additional 307,516 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in BlackRock by 5.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,568,890 shares of the asset manager’s stock valued at $1,014,287,000 after buying an additional 74,974 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 0.7 %

Shares of BlackRock stock traded up $5.18 during trading on Friday, hitting $762.83. The company’s stock had a trading volume of 447,925 shares, compared to its average volume of 625,928. The stock has a market cap of $113.62 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The stock has a 50-day moving average price of $802.08 and a two-hundred day moving average price of $760.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48.

BlackRock (NYSE:BLK) last released its quarterly 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. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the company posted $7.93 EPS. The business’s revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction on 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 sale, the director now directly owns 70,378 shares in the company, valued at $54,972,959.58. The transaction was disclosed in a filing with the SEC, which is available at this link. In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value of $2,669,833.98. Following the transaction, the director now owns 70,378 shares in the company, valued at $54,972,959.58. The disclosure for this sale can be found here. Insiders have sold 82,511 shares of company stock worth $66,778,367 over the last ninety days. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BLK. Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. 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. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, UBS Group increased their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. 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, the company presently has an average rating of “Moderate Buy” and an average price target 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.