BlackRock, Inc. (NYSE:BLK) Shares Sold by NewSquare Capital LLC

NewSquare Capital LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 57.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68 shares of the asset manager’s stock after selling 93 shares during the quarter. NewSquare Capital LLC’s holdings in BlackRock were worth $55,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Morgan Stanley boosted its position in BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after purchasing an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in BlackRock by 1.1% during the third 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 in the last quarter. FMR LLC grew 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 valued at $1,361,064,000 after buying an additional 379,631 shares during the period. Wellington Management Group LLP increased its holdings 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 valued at $1,128,544,000 after buying an additional 307,516 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of BlackRock by 5.0% in the third quarter. Ameriprise Financial Inc. now owns 1,568,890 shares of the asset manager’s stock worth $1,014,287,000 after acquiring an additional 74,974 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction on 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 transaction, the director now owns 70,378 shares in the company, valued at approximately $54,972,959.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, 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 value of $2,669,833.98. Following the completion of the sale, the director now owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Martin Small sold 7,036 shares of BlackRock stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total transaction of $5,532,828.96. Following the sale, the chief financial officer now directly owns 5,259 shares in the company, valued at approximately $4,135,467.24. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock worth $66,778,367 in the last three months. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BLK. Morgan Stanley lifted their price target 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. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. lifted their price target 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. UBS Group upped their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Price Performance

NYSE BLK traded down $1.55 during trading hours on Wednesday, hitting $765.07. 341,360 shares of the company’s stock traded hands, compared to its average volume of 624,315. The company has a market capitalization of $113.95 billion, a PE ratio of 19.35, a PEG ratio of 1.57 and a beta of 1.37. 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, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The firm’s 50-day moving average is $803.96 and its 200-day moving average is $759.31.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (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 business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the business earned $7.93 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that BlackRock, Inc. will post 41.19 EPS 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.