SVB Wealth LLC Has $10.04 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

SVB Wealth LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,370 shares of the asset manager’s stock after selling 2,738 shares during the period. SVB Wealth LLC’s holdings in BlackRock were worth $10,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BLK. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock in the 4th quarter worth about $27,000. LFA Lugano Financial Advisors SA raised its holdings in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of BlackRock in the 2nd quarter worth about $33,000. Exchange Traded Concepts LLC raised its holdings in shares of BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after acquiring an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of BlackRock in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now owns 5,975 shares in the company, valued at $4,691,032.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,511 shares of company stock valued at $71,864,028. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.8 %

BlackRock stock opened at $749.02 on Wednesday. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The firm has a 50 day moving average price of $807.70 and a 200-day moving average price of $755.20. The company has a market capitalization of $111.56 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.53 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm earned $7.93 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 41.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley upped their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group upped their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $811.43.

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.