Intrust Bank NA Sells 144 Shares of BlackRock, Inc. (NYSE:BLK)

Intrust Bank NA trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 886 shares of the asset manager’s stock after selling 144 shares during the quarter. Intrust Bank NA’s holdings in BlackRock were worth $719,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new stake in BlackRock during the 4th quarter valued at about $27,000. LFA Lugano Financial Advisors SA lifted its stake in 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 acquiring an additional 25 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of BlackRock during the 4th quarter valued at about $32,000. Exchange Traded Concepts LLC raised its holdings in shares of BlackRock by 671.4% during the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of BlackRock in the 4th quarter worth $40,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BLK. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley lifted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. UBS Group increased their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three equities research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Stock Performance

NYSE BLK opened at $754.90 on Wednesday. The stock has a market capitalization of $112.43 billion, a PE ratio of 19.18, a P/E/G ratio of 1.58 and a beta of 1.37. The business has a 50 day simple moving average of $800.56 and a two-hundred day simple moving average of $763.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00.

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 the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the company posted $7.93 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts predict that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, 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. Insiders have sold 82,511 shares of company stock valued at $66,778,367 in the last ninety days. 0.90% of the stock is owned by company insiders.

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.