Fiduciary Group LLC Sells 120 Shares of BlackRock, Inc. (NYSE:BLK)

Fiduciary Group LLC cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,878 shares of the asset manager’s stock after selling 120 shares during the period. Fiduciary Group LLC’s holdings in BlackRock were worth $2,336,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction that occurred 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 owns 70,378 shares in the company, valued at approximately $54,972,959.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was 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 of the company’s stock, valued at approximately $54,972,959.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold 82,511 shares of company stock valued at $66,778,367 over the last ninety days. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BlackRock stock traded up $5.23 on Friday, hitting $762.88. 447,939 shares of the company were exchanged, compared to its average volume of 683,111. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market capitalization 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. The company has a 50-day moving average price of $802.08 and a 200 day moving average price of $760.98.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion during 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%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.93 EPS. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal 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.