Eagle Ridge Investment Management Has $11.79 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Eagle Ridge Investment Management cut its holdings in BlackRock, Inc. (NYSE:BLK) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,519 shares of the asset manager’s stock after selling 278 shares during the quarter. Eagle Ridge Investment Management’s holdings in BlackRock were worth $11,787,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA lifted its position in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at $32,000. Exchange Traded Concepts LLC increased its stake in BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after acquiring an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in BlackRock in the 4th quarter worth about $40,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Down 0.4 %

BlackRock stock traded down $2.74 during mid-day trading on Monday, reaching $760.14. 237,889 shares of the company were exchanged, compared to its average volume of 621,080. The business has a fifty day moving average of $802.08 and a 200 day moving average of $761.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a market cap of $113.22 billion, a P/E ratio of 19.35, a PEG ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. BlackRock’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.93 earnings per share. Research analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value of $2,669,833.98. Following the transaction, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Cohen sold 950 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,511 shares of company stock valued at $66,778,367. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley raised their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $819.00 to $938.00 in a research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

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.