NewSquare Capital LLC Trims Stock Position in BlackRock, Inc. (NYSE:BLK)

NewSquare Capital LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 57.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 68 shares of the asset manager’s stock after selling 93 shares during the period. NewSquare Capital LLC’s holdings in BlackRock were worth $55,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nikulski Financial Inc. boosted its holdings in shares of BlackRock by 6.8% in the 3rd quarter. Nikulski Financial Inc. now owns 314 shares of the asset manager’s stock valued at $203,000 after purchasing an additional 20 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings 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 acquiring an additional 47 shares during the last quarter. Private Trust Co. NA grew its position in BlackRock by 1.6% during the third quarter. Private Trust Co. NA now owns 1,118 shares of the asset manager’s stock valued at $722,000 after acquiring an additional 18 shares during the period. Caprock Group LLC increased its stake in BlackRock by 2.8% during the third quarter. Caprock Group LLC now owns 1,924 shares of the asset manager’s stock worth $1,244,000 after acquiring an additional 53 shares during the last quarter. Finally, Marion Wealth Management raised its holdings in shares of BlackRock by 2.8% in the 3rd quarter. Marion Wealth Management now owns 2,192 shares of the asset manager’s stock worth $1,417,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $335,425,128.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 completion of the transaction, the chief executive officer now 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 through this hyperlink. Also, CFO Martin Small sold 7,036 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total value of $5,532,828.96. Following the sale, the chief financial officer now directly owns 5,259 shares in the company, valued at $4,135,467.24. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock valued at $66,778,367 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.2 %

BLK stock traded down $1.55 during midday trading on Wednesday, hitting $765.07. 341,360 shares of the company’s stock were exchanged, compared to its average volume of 624,315. The firm has a 50 day moving average price of $803.96 and a 200-day moving average price of $759.31. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The stock has a market capitalization of $113.95 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last issued its quarterly 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 business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.93 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group increased their price objective 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. Morgan Stanley lifted their target price 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. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods restated 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. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

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.