Amalgamated Bank Lowers Stake in BlackRock, Inc. (NYSE:BLK)

Amalgamated Bank decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 34,594 shares of the asset manager’s stock after selling 1,824 shares during the period. Amalgamated Bank’s holdings in BlackRock were worth $28,083,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its holdings 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 valued at $35,000 after buying an additional 47 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of BlackRock by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 42,689 shares of the asset manager’s stock valued at $27,598,000 after purchasing an additional 675 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in BlackRock by 0.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 21,011 shares of the asset manager’s stock worth $13,583,000 after acquiring an additional 119 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in BlackRock in the 3rd quarter worth approximately $318,000. Finally, Raymond James & Associates raised its holdings in shares of BlackRock by 1.6% during the third quarter. Raymond James & Associates now owns 276,276 shares of the asset manager’s stock worth $178,610,000 after purchasing an additional 4,324 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock 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 transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BlackRock news, Director J. Richard Kushel sold 520 shares of BlackRock stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $784.69, for a total transaction of $408,038.80. Following the transaction, the director now directly owns 4,150 shares of the company’s stock, valued at $3,256,463.50. The sale was disclosed in a filing with the SEC, which is available at 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 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 disclosure for this sale can be found here. Insiders have sold a total of 79,093 shares of company stock valued at $64,108,533 over the last quarter. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on BLK shares. Morgan Stanley increased 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, UBS Group upped their price objective 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. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Trading Up 0.7 %

NYSE:BLK traded up $5.42 during trading hours on Thursday, reaching $757.00. 632,387 shares of the stock were exchanged, compared to its average volume of 621,895. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The business has a 50-day moving average of $799.47 and a two-hundred day moving average of $763.50. The company has a market capitalization of $112.75 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.56 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 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 the consensus estimate of $4.65 billion. During the same quarter in the previous year, the firm posted $7.93 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict 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.