Stonegate Investment Group LLC Sells 165 Shares of BlackRock, Inc. (NYSE:BLK)

Stonegate Investment Group LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,465 shares of the asset manager’s stock after selling 165 shares during the quarter. Stonegate Investment Group LLC’s holdings in BlackRock were worth $4,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abacus Planning Group Inc. increased its holdings in BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after acquiring an additional 13 shares during the last quarter. Knuff & Co LLC raised its stake in shares of BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 13 shares during the period. Everhart Financial Group Inc. lifted its holdings in BlackRock by 3.2% during the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after purchasing an additional 14 shares in the last quarter. Spreng Capital Management Inc. lifted its holdings in shares of BlackRock by 1.1% in the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after acquiring an additional 14 shares during the last quarter. Finally, Magellan Asset Management Ltd lifted its stake in BlackRock by 3.6% in the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock worth $328,000 after purchasing an additional 14 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BLK shares. JPMorgan Chase & Co. lifted their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, UBS Group increased their price target 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. Three 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, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Price Performance

Shares of BlackRock stock traded down $6.38 during trading hours on Tuesday, reaching $754.90. The stock had a trading volume of 418,647 shares, compared to its average volume of 621,854. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $112.43 billion, a PE ratio of 19.18, a PEG ratio of 1.58 and a beta of 1.37. The stock’s 50 day moving average is $800.56 and its 200 day moving average is $763.59.

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 analysts’ consensus estimates 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 business posted $7.93 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock valued at $66,778,367 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

About BlackRock

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.