Sheets Smith Wealth Management Sells 43 Shares of BlackRock, Inc. (NYSE:BLK)

Sheets Smith Wealth Management lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,748 shares of the asset manager’s stock after selling 43 shares during the quarter. Sheets Smith Wealth Management’s holdings in BlackRock were worth $3,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BLK. Abacus Planning Group Inc. increased its stake in shares of BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after buying an additional 13 shares during the period. Knuff & Co LLC raised its holdings in shares of BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 13 shares in the last quarter. Everhart Financial Group Inc. lifted its position in shares of BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after purchasing an additional 14 shares during the period. Spreng Capital Management Inc. boosted its stake in shares of BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after purchasing an additional 14 shares in the last quarter. Finally, Inscription Capital LLC increased its holdings in BlackRock by 1.2% during the fourth quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after buying an additional 15 shares during the period. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. 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. Morgan Stanley raised their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, UBS Group boosted their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Transactions at BlackRock

In related news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the sale, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total transaction of $765,272.50. Following the transaction, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. Insiders have sold a total of 72,057 shares of company stock worth $58,575,704 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Up 0.9 %

NYSE:BLK traded up $6.91 during midday trading on Friday, reaching $763.91. The company had a trading volume of 558,283 shares, compared to its average volume of 689,289. The stock’s fifty day simple moving average is $797.35 and its 200-day simple moving average is $766.29. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The firm has a market capitalization of $113.78 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.93 EPS. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

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.