BlackRock, Inc. (NYSE:BLK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,985 shares of the asset manager’s stock after selling 5,393 shares during the quarter. Federated Hermes Inc. owned about 0.08% of BlackRock worth $99,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in BlackRock in the 4th quarter worth approximately $1,037,009,000. Moneta Group Investment Advisors LLC boosted its position in BlackRock by 104,159.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager’s stock worth $494,269,000 after purchasing an additional 696,830 shares in the last quarter. International Assets Investment Management LLC boosted its position in BlackRock by 77,524.5% in the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after purchasing an additional 641,128 shares in the last quarter. FMR LLC boosted its position in BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after purchasing an additional 379,631 shares in the last quarter. Finally, Invesco Ltd. boosted its position in BlackRock by 84.4% in the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after purchasing an additional 340,792 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the business’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 directly 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 can be accessed through this link. In related news, CEO Laurence Fink sold 30,978 shares of the business’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 directly 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 can be accessed through this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock worth $71,864,028 in the last quarter. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BLK shares. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Morgan Stanley lifted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday. Finally, UBS Group lifted their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Trading Down 0.9 %

Shares of BLK opened at $747.08 on Friday. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $805.96 and its two-hundred day moving average is $755.13. The stock has a market cap of $111.27 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37.

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 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 previous year, the firm earned $7.93 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

BlackRock Company 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.