Fiduciary Trust Co Has $6.83 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Fiduciary Trust Co increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,664 shares of the asset manager’s stock after purchasing an additional 122 shares during the period. Fiduciary Trust Co’s holdings in BlackRock were worth $6,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of BlackRock during the 4th quarter worth approximately $2,356,357,000. Proficio Capital Partners LLC boosted its stake in shares of BlackRock by 138,682.5% in the 4th 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. bought a new stake in shares of BlackRock in the 4th quarter worth about $572,730,000. Amundi bought a new position in BlackRock during the 4th quarter valued at about $528,792,000. Finally, Montrusco Bolton Investments Inc. acquired a new position in BlackRock in the fourth quarter valued at about $343,976,000. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 430 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the sale, the director now owns 3,720 shares in the company, valued at $3,531,656.40. This represents a 10.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 12,430 shares of company stock valued at $11,237,249. Corporate insiders own 1.98% of the company’s stock.

BlackRock Stock Down 0.6 %

NYSE: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. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The stock’s fifty day simple moving average is $913.01 and its 200-day simple moving average is $978.51. The firm has a market capitalization of $143.37 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.90 and a beta of 1.41.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Barclays lifted their target price on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Morgan Stanley reduced their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company dropped their target price on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Three research 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, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,077.08.

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.