London Co. of Virginia Has $502.82 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

London Co. of Virginia trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 490,502 shares of the asset manager’s stock after selling 25,544 shares during the quarter. BlackRock accounts for approximately 2.7% of London Co. of Virginia’s investment portfolio, making the stock its 3rd largest holding. London Co. of Virginia owned approximately 0.32% of BlackRock worth $502,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. IAG Wealth Partners LLC purchased a new position in shares of BlackRock during the fourth quarter valued at $26,000. Collier Financial purchased a new position in shares of BlackRock during the fourth quarter valued at $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock during the fourth quarter valued at $33,000. Atwood & Palmer Inc. purchased a new position in shares of BlackRock during the fourth quarter valued at $36,000. Finally, West Financial Advisors LLC purchased a new position in BlackRock in the fourth quarter valued at about $39,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $923.48 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a market cap of $143.37 billion, a PE ratio of 21.99, a P/E/G ratio of 1.90 and a beta of 1.41. The business has a 50-day simple moving average of $913.01 and a two-hundred day simple moving average of $978.40. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22.

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

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares of the company’s stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 12,430 shares of company stock valued at $11,237,249 over the last quarter. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BLK shares. UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Morgan Stanley cut their target price 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. TD Cowen cut their target price on 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. JPMorgan Chase & Co. cut their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target 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.