BlackRock, Inc. (NYSE:BLK) Holdings Lowered by Stokes Family Office LLC

Stokes Family Office LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,657 shares of the asset manager’s stock after selling 427 shares during the period. Stokes Family Office LLC’s holdings in BlackRock were worth $4,593,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Emerald Advisors LLC raised its position in BlackRock by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after buying an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in BlackRock by 1.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after buying an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. raised its position in BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in BlackRock during the fourth quarter valued at $439,000. Finally, Patten & Patten Inc. TN acquired a new position in BlackRock during the fourth quarter valued at $205,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.9 %

Shares of NYSE BLK traded up $6.91 during mid-day trading on Friday, reaching $763.91. 555,740 shares of the company traded hands, compared to its average volume of 621,157. 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 stock has a market cap of $113.78 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37. The company’s fifty day moving average is $798.34 and its two-hundred day moving average is $763.46. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the firm posted $7.93 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 520 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $784.69, for a total transaction of $408,038.80. Following the completion of the sale, the director now owns 4,150 shares in the company, valued at approximately $3,256,463.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director J. Richard Kushel sold 520 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $784.69, for a total transaction of $408,038.80. Following the completion of the sale, the director now owns 4,150 shares in the company, valued at approximately $3,256,463.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 72,057 shares of company stock worth $58,575,704 in the last 90 days. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.