BlackRock, Inc. (NYSE:BLK) Shares Sold by Spire Wealth Management

Spire Wealth Management trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,543 shares of the asset manager’s stock after selling 54 shares during the quarter. Spire Wealth Management’s holdings in BlackRock were worth $2,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Morgan Stanley lifted its holdings in shares of BlackRock by 3.2% during the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after buying an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in BlackRock by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after purchasing an additional 35,161 shares during the last quarter. FMR LLC increased its holdings in shares of BlackRock by 22.0% during the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after purchasing an additional 379,631 shares during the period. Fisher Asset Management LLC grew its position in BlackRock by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,015,535 shares of the asset manager’s stock valued at $1,636,212,000 after acquiring an additional 47,326 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of BlackRock by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after acquiring an additional 307,516 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 1.0 %

NYSE:BLK traded up $7.56 during trading hours on Tuesday, hitting $782.20. The stock had a trading volume of 72,930 shares, compared to its average volume of 612,989. The company has a market cap of $116.50 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 1.58 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The business’s 50 day moving average is $796.73 and its 200-day moving average is $767.36. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $7.93 earnings per share. Sell-side analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley increased their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, UBS Group boosted 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Insider Transactions at BlackRock

In other BlackRock news, General Counsel Christopher J. Meade sold 3,100 shares of BlackRock stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total value of $2,460,966.00. Following the sale, the general counsel now directly owns 8,628 shares in the company, valued at approximately $6,849,424.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, General Counsel Christopher J. Meade sold 3,100 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total value of $2,460,966.00. Following the completion of the sale, the general counsel now owns 8,628 shares in the company, valued at $6,849,424.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders sold 71,087 shares of company stock valued at $57,814,366 over the last three months. Company insiders own 0.90% of the company’s stock.

BlackRock 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.