Moran Wealth Management LLC Decreases Position in BlackRock, Inc. (NYSE:BLK)

Moran Wealth Management LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 54.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,274 shares of the asset manager’s stock after selling 12,183 shares during the period. Moran Wealth Management LLC’s holdings in BlackRock were worth $8,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of BLK. Congress Wealth Management LLC DE increased its stake in shares of BlackRock by 441.8% in the third quarter. Congress Wealth Management LLC DE now owns 2,590 shares of the asset manager’s stock worth $1,674,000 after purchasing an additional 2,112 shares in the last quarter. Leisure Capital Management raised its holdings in BlackRock by 2.1% during the 3rd quarter. Leisure Capital Management now owns 1,830 shares of the asset manager’s stock valued at $1,183,000 after acquiring an additional 37 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its position in shares of BlackRock by 6.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 2,646 shares of the asset manager’s stock worth $1,711,000 after acquiring an additional 161 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of BlackRock by 1.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 1,148 shares of the asset manager’s stock worth $742,000 after acquiring an additional 19 shares during the period. Finally, Malaga Cove Capital LLC raised its stake in shares of BlackRock by 22.4% during the 3rd quarter. Malaga Cove Capital LLC now owns 945 shares of the asset manager’s stock valued at $611,000 after purchasing an additional 173 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 1.6 %

Shares of NYSE BLK traded up $12.81 during mid-day trading on Wednesday, hitting $815.77. The stock had a trading volume of 252,215 shares, compared to its average volume of 614,135. The business has a 50 day moving average price of $793.57 and a two-hundred day moving average price of $774.99. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The firm has a market cap of $121.50 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.93 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 41.31 EPS for the current fiscal year.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,037 shares of company stock worth $61,743,127. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BLK has been the subject of a number of recent analyst reports. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley lifted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $845.42.

Get Our Latest Stock Analysis on BLK

BlackRock Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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