BlackRock, Inc. (NYSE:BLK) Stock Position Lowered by Bogart Wealth LLC

Bogart Wealth LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,736 shares of the asset manager’s stock after selling 230 shares during the quarter. BlackRock accounts for 0.7% of Bogart Wealth LLC’s investment portfolio, making the stock its 22nd biggest holding. Bogart Wealth LLC’s holdings in BlackRock were worth $12,775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock in the 4th quarter valued at about $27,000. LFA Lugano Financial Advisors SA increased its stake in shares of BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of BlackRock during the fourth quarter worth $32,000. Knuff & Co LLC boosted its position in BlackRock by 48.1% during the fourth 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, FSC Wealth Advisors LLC acquired a new position in BlackRock in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group lifted their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Morgan Stanley increased 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 report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reaffirmed 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

Insiders Place Their Bets

In other news, Director Stephen Cohen sold 950 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the transaction, the director now owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. Insiders sold a total of 67,987 shares of company stock worth $55,353,400 over the last quarter. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BlackRock stock traded up $8.39 during trading hours on Thursday, hitting $786.72. The stock had a trading volume of 68,160 shares, compared to its average volume of 615,090. The company has a 50-day moving average of $796.34 and a two-hundred day moving average of $768.53. 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, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The company has a market cap of $117.17 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its 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. The firm had revenue of $4.73 billion during 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 earnings per share. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal 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.