BlackRock, Inc. (NYSE:BLK) Shares Sold by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 14.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 540 shares of the asset manager’s stock after selling 94 shares during the period. Sage Mountain Advisors LLC’s holdings in BlackRock were worth $438,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Emerald Advisors LLC grew 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 acquiring an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew 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 acquiring an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew 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 acquiring an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in BlackRock in the 4th quarter valued at about $439,000. Finally, Patten & Patten Inc. TN purchased a new position in BlackRock in the 4th quarter valued at about $205,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 3,418 shares of the 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 directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,511 shares of company stock worth $66,778,367. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Up 1.3 %

Shares of BLK stock opened at $760.05 on Tuesday. The firm has a market cap of $113.20 billion, a P/E ratio of 19.32, a PEG ratio of 1.55 and a beta of 1.37. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. 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 50-day simple moving average is $804.19 and its 200-day simple moving average is $758.48.

BlackRock (NYSE:BLK) last announced 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. 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 prior year, the firm posted $7.93 EPS. The company’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current year.

Analysts Set New Price Targets

BLK has been the topic of a number of recent research reports. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their target price for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Morgan Stanley upped their target price 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. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, UBS Group upped their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus 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.