Palouse Capital Management Inc. Has $4.19 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Palouse Capital Management Inc. lowered its holdings in BlackRock, Inc. (NYSE:BLK) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,158 shares of the asset manager’s stock after selling 134 shares during the period. BlackRock makes up about 3.0% of Palouse Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Palouse Capital Management Inc.’s holdings in BlackRock were worth $4,187,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock during the 4th quarter worth approximately $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 worth $30,000 after acquiring an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in BlackRock during the 4th quarter worth approximately $32,000. Tyler Stone Wealth Management acquired a new position in BlackRock during the 2nd quarter worth approximately $33,000. Finally, FSC Wealth Advisors LLC acquired a new position in BlackRock during the 4th quarter worth approximately $40,000. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 36,059 shares of the stock in a transaction on 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 transaction, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on 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 in the company, valued at $13,910,292.24. 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 three months. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BLK shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective 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. UBS Group upped 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. Finally, TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Three 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 currently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Trading Up 0.4 %

Shares of BLK traded up $2.68 during trading hours on Friday, hitting $749.98. 850,477 shares of the stock were exchanged, compared to its average volume of 630,430. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The business has a 50-day moving average of $805.02 and a 200-day moving average of $755.87. The firm has a market capitalization of $111.70 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share 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 company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the company posted $7.93 earnings per share. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts expect that BlackRock, Inc. will post 41.19 EPS for the current year.

BlackRock Company 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.