Aviance Capital Partners LLC Has $6.89 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Aviance Capital Partners LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,484 shares of the asset manager’s stock after selling 129 shares during the period. BlackRock makes up approximately 1.5% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 11th largest position. Aviance Capital Partners LLC’s holdings in BlackRock were worth $6,888,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock in the fourth quarter valued at about $27,000. LFA Lugano Financial Advisors SA boosted its stake in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in BlackRock during the 4th quarter worth approximately $32,000. Knuff & Co LLC lifted its stake in BlackRock by 48.1% in 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 last quarter. Finally, Exchange Traded Concepts LLC boosted its position in BlackRock by 671.4% in the third 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. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Up 1.4 %

NYSE:BLK traded up $10.73 on Monday, hitting $774.64. The stock had a trading volume of 449,726 shares, compared to its average volume of 619,190. The company has a market cap of $115.38 billion, a PE ratio of 19.69, a P/E/G ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The business’s fifty day moving average is $796.73 and its 200 day moving average is $767.36. 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 issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $7.93 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other BlackRock 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Stephen Cohen sold 950 shares of the stock in a transaction dated 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 $3,574,225.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated 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 owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold 71,087 shares of company stock worth $57,814,366 over the last three months. 0.90% of the stock is currently owned by insiders.

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.