Gray Wealth Management Inc. Decreases Stock Position in BlackRock, Inc. (NYSE:BLK)

Gray Wealth Management Inc. cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 10.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 526 shares of the asset manager’s stock after selling 62 shares during the quarter. Gray Wealth Management Inc.’s holdings in BlackRock were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of BlackRock during the fourth quarter worth about $27,000. LFA Lugano Financial Advisors SA raised its position 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 purchasing an additional 25 shares during the last quarter. Tyler Stone Wealth Management purchased a new stake in BlackRock in the 2nd quarter worth approximately $33,000. Exchange Traded Concepts LLC grew its position 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 buying an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $40,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

BlackRock Stock Down 0.9 %

Shares of BLK traded down $6.49 during trading hours on Thursday, hitting $747.30. The company had a trading volume of 614,635 shares, compared to its average volume of 627,260. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The firm has a fifty day moving average price of $806.88 and a 200-day moving average price of $755.19. The stock has a market capitalization of $111.30 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.55 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.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the company earned $7.93 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 41.26 EPS for the current fiscal year.

Insider Activity at BlackRock

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the sale, the insider now owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the firm’s 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 approximately $4,691,032.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is owned by corporate insiders.

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.