BlackRock, Inc. (NYSE:BLK) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,046 shares of the asset manager’s stock after selling 75 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in BlackRock were worth $849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fairfield Bush & CO. acquired a new position in shares of BlackRock during the 1st quarter worth approximately $115,000. United Bank raised its position in shares of BlackRock by 17.1% during the 1st quarter. United Bank now owns 1,287 shares of the asset manager’s stock worth $983,000 after purchasing an additional 188 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of BlackRock by 2.6% during the 1st quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock worth $1,512,000 after purchasing an additional 51 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of BlackRock by 35.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock worth $783,000 after purchasing an additional 268 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of BlackRock by 11.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock worth $1,110,000 after purchasing an additional 152 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BLK. JPMorgan Chase & Co. lifted their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group boosted their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Morgan Stanley boosted their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Up 0.6 %

Shares of BLK stock traded up $4.89 during trading hours on Thursday, hitting $758.68. 162,592 shares of the company were exchanged, compared to its average volume of 621,077. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The business’s 50-day simple moving average is $806.88 and its two-hundred day simple moving average is $755.19. The stock has a market capitalization of $113.00 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.55 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS 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 analysts’ expectations of $4.65 billion. During the same quarter last year, the company posted $7.93 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 41.26 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares in the company, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,511 shares of company stock valued at $71,864,028. Insiders own 0.90% of the company’s stock.

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.