Wealthcare Advisory Partners LLC Cuts Stock Position in BlackRock, Inc. (NYSE:BLK)

Wealthcare Advisory Partners LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 719 shares of the asset manager’s stock after selling 39 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in BlackRock were worth $584,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Emerald Advisors LLC boosted its stake in shares of 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 purchasing an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in BlackRock by 1.9% during the third 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 buying an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. grew its stake in shares of BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of BlackRock in the fourth quarter worth about $439,000. Finally, Patten & Patten Inc. TN bought a new stake in shares of BlackRock in the 4th quarter valued at about $205,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Stephen Cohen sold 950 shares of BlackRock 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 completion of the sale, the director now directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other BlackRock news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the completion of the sale, the director now directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were 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 have sold a total of 67,987 shares of company stock worth $55,353,400 over the last 90 days. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, UBS Group raised their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Stock Performance

Shares of BLK stock opened at $778.33 on Thursday. The stock has a market cap of $115.92 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The company’s fifty day moving average price is $796.34 and its 200-day moving average price is $768.53.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the business earned $7.93 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect 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.