Valmark Advisers Inc. Sells 20 Shares of BlackRock, Inc. (NYSE:BLK)

Valmark Advisers Inc. reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,450 shares of the asset manager’s stock after selling 20 shares during the quarter. Valmark Advisers Inc.’s holdings in BlackRock were worth $1,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in BlackRock by 77,524.5% in the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after buying an additional 641,128 shares during the last quarter. FMR LLC lifted its position in BlackRock by 22.0% in the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after buying an additional 379,631 shares during the last quarter. Invesco Ltd. lifted its position in BlackRock by 84.4% in the third quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after buying an additional 340,792 shares during the last quarter. Wellington Management Group LLP lifted its position 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 worth $1,128,544,000 after buying an additional 307,516 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in 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 buying an additional 139,570 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Up 0.7 %

Shares of BlackRock stock traded up $5.23 during trading on Friday, hitting $762.88. 447,939 shares of the stock traded hands, compared to its average volume of 683,111. The firm has a market cap of $113.62 billion, a P/E ratio of 19.39, 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 52-week low of $596.18 and a 52-week high of $845.00. The stock’s fifty day simple moving average is $802.08 and its 200 day simple moving average is $760.98.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion for 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%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.93 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group raised their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley lifted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction dated 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 owns 70,378 shares in the company, valued at $54,972,959.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold 82,511 shares of company stock worth $66,778,367 over the last quarter. Insiders own 0.90% of the company’s stock.

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.