Lyell Wealth Management LP Decreases Holdings in BlackRock, Inc. (NYSE:BLK)

Lyell Wealth Management LP trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,370 shares of the asset manager’s stock after selling 71 shares during the quarter. Lyell Wealth Management LP’s holdings in BlackRock were worth $4,360,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BLK. Abacus Planning Group Inc. boosted its stake in BlackRock by 4.0% in the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares in the last quarter. Everhart Financial Group Inc. boosted its stake in BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares in the last quarter. Spreng Capital Management Inc. boosted its stake in BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 14 shares in the last quarter. Inscription Capital LLC boosted its stake in BlackRock by 1.2% in the fourth quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after acquiring an additional 15 shares in the last quarter. Finally, ERTS Wealth Advisors LLC boosted its stake in BlackRock by 2.9% in the fourth quarter. ERTS Wealth Advisors LLC now owns 538 shares of the asset manager’s stock valued at $437,000 after acquiring an additional 15 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the sale, the director now owns 70,378 shares in the company, valued at $54,972,959.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, General Counsel Christopher J. Meade sold 3,100 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the sale, the general counsel now owns 8,628 shares in the company, valued at $6,849,424.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the sale, the director now owns 70,378 shares in the company, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock valued at $66,778,367 over the last 90 days. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

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

BlackRock Stock Performance

Shares of BlackRock stock traded down $4.11 during trading on Wednesday, hitting $762.51. 751,160 shares of the company’s stock were exchanged, compared to its average volume of 629,645. 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 has a 50-day simple moving average of $803.50 and a 200-day simple moving average of $759.33. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The stock has a market capitalization of $113.57 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.57 and a beta of 1.37.

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 firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company posted $7.93 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, research analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current year.

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.