Leisure Capital Management Has $1.25 Million Stake in BlackRock, Inc. (NYSE:BLK)

Leisure Capital Management trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,535 shares of the asset manager’s stock after selling 295 shares during the period. Leisure Capital Management’s holdings in BlackRock were worth $1,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Morgan Stanley increased its stake in BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after buying an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 valued at $2,148,586,000 after buying an additional 35,161 shares during the last quarter. FMR LLC increased its stake in BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after buying an additional 379,631 shares during the last quarter. Wellington Management Group LLP increased its stake in BlackRock by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after buying an additional 307,516 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in BlackRock by 5.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,568,890 shares of the asset manager’s stock valued at $1,014,287,000 after buying an additional 74,974 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLK has been the topic of several recent research reports. UBS Group lifted their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. TD Cowen raised shares of 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. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley lifted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Stock Performance

Shares of BLK stock traded up $5.23 during midday trading on Friday, hitting $762.88. 447,939 shares of the company were exchanged, compared to its average volume of 683,111. The firm has a market capitalization of $113.62 billion, a P/E ratio of 19.39, a PEG ratio of 1.57 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 firm’s 50 day moving average price is $802.08 and its two-hundred day moving average price is $760.15. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 15.34%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.93 EPS. As a group, equities research analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock valued at $66,778,367 in the last quarter. 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.