Delta Financial Advisors LLC Has $3.09 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Delta Financial Advisors LLC cut its holdings in BlackRock, Inc. (NYSE:BLK) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 3,807 shares of the asset manager’s stock after selling 25 shares during the quarter. BlackRock accounts for approximately 1.3% of Delta Financial Advisors LLC’s holdings, making the stock its 18th largest position. Delta Financial Advisors LLC’s holdings in BlackRock were worth $3,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Morgan Stanley grew its stake 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 acquiring an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 acquiring an additional 35,161 shares in the last quarter. FMR LLC grew its stake in shares of BlackRock by 22.0% in the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after acquiring an additional 379,631 shares in the last quarter. Northern Trust Corp grew its stake in shares of BlackRock by 0.8% in the first quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock valued at $1,463,536,000 after acquiring an additional 15,290 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of BlackRock by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after acquiring an additional 307,516 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday. 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 upped their price objective for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Price Performance

Shares of BLK stock traded up $4.89 on Thursday, reaching $758.68. The company had a trading volume of 162,592 shares, compared to its average volume of 621,077. The stock has a market capitalization of $113.00 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The business’s 50-day moving average is $806.88 and its 200 day moving average is $755.19.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS 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 analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.93 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 41.26 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other news, 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 value of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction that occurred 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is currently owned by insiders.

About BlackRock

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.