BlackRock, Inc. (NYSE:BLK) Holdings Trimmed by Full Sail Capital LLC

Full Sail Capital LLC lowered its holdings in BlackRock, Inc. (NYSE:BLK) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 419 shares of the asset manager’s stock after selling 45 shares during the period. Full Sail Capital LLC’s holdings in BlackRock were worth $430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank purchased a new position in BlackRock during the 4th quarter valued at about $2,356,357,000. Proficio Capital Partners LLC grew its position in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock valued at $634,000 after purchasing an additional 633,779 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in BlackRock in the 4th quarter valued at approximately $572,730,000. Amundi purchased a new stake in BlackRock in the 4th quarter worth approximately $528,792,000. Finally, Montrusco Bolton Investments Inc. acquired a new stake in shares of BlackRock during the 4th quarter valued at $343,976,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on BLK shares. Citigroup lowered their target price on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. StockNews.com started coverage on BlackRock in a report on Thursday. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. TD Cowen dropped their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Morgan Stanley decreased their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,077.08.

BlackRock Stock Performance

BLK opened at $923.48 on Friday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $913.01 and its two-hundred day moving average price is $978.51. The firm has a market capitalization of $143.37 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the previous year, the firm posted $9.81 earnings per share. BlackRock’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current year.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares in the company, valued at approximately $56,261,628.34. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 12,430 shares of company stock valued at $11,237,249. Insiders own 1.98% 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.