Bogart Wealth LLC Cuts Stock Position in BlackRock, Inc. (NYSE:BLK)

Bogart Wealth LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,736 shares of the asset manager’s stock after selling 230 shares during the period. BlackRock comprises approximately 0.7% of Bogart Wealth LLC’s portfolio, making the stock its 22nd biggest holding. Bogart Wealth LLC’s holdings in BlackRock were worth $12,775,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of BlackRock by 77,524.5% during the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after buying an additional 641,128 shares in the last quarter. FMR LLC boosted its position in shares of 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 purchasing an additional 379,631 shares in the last quarter. Invesco Ltd. increased its stake in shares of BlackRock by 84.4% in the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after acquiring an additional 340,792 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of BlackRock by 21.4% during 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 purchasing an additional 307,516 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of BlackRock by 24.3% in the third quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock worth $461,446,000 after acquiring an additional 139,570 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLK. UBS Group boosted their target price 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. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated 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. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley upped their price target 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Performance

BLK stock traded up $8.39 during trading on Thursday, hitting $786.72. 68,160 shares of the company traded hands, compared to its average volume of 615,090. The company has a market cap of $117.17 billion, a PE ratio of 19.78, a P/E/G ratio of 1.58 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 stock’s 50-day simple moving average is $796.34 and its 200 day simple moving average is $768.53. 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 (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $7.93 EPS. On average, equities analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other BlackRock news, Director Stephen Cohen sold 950 shares of the 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 directly owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction that occurred on 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 of the company’s stock, valued at $3,574,225.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 67,987 shares of company stock valued at $55,353,400 in the last three months. 0.90% of the stock is currently owned by company insiders.

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.