NBW Capital LLC Cuts Stock Position in BlackRock, Inc. (NYSE:BLK)

NBW Capital LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 343 shares of the asset manager’s stock after selling 15 shares during the period. NBW Capital LLC’s holdings in BlackRock were worth $278,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock during the 4th quarter valued at $27,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the period. Tyler Stone Wealth Management bought a new position in shares of BlackRock during the 2nd quarter valued at $33,000. Exchange Traded Concepts LLC lifted its holdings in shares of BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares during the period. Finally, FSC Wealth Advisors LLC bought a new position in shares of BlackRock during the 4th quarter valued at $40,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 completion of the transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock worth $71,864,028 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BLK stock traded down $2.28 during trading on Thursday, reaching $751.51. The company’s stock had a trading volume of 354,235 shares, compared to its average volume of 623,679. The company has a market capitalization of $111.93 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37. The company’s fifty day moving average is $806.88 and its 200-day moving average is $755.19. 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, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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. The firm had revenue of $4.73 billion during 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 quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.93 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 41.26 earnings per share for the current fiscal year.

About BlackRock

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.