BlackRock, Inc. (NYSE:BLK) Position Lowered by DT Investment Partners LLC

DT Investment Partners LLC decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,535 shares of the asset manager’s stock after selling 108 shares during the period. DT Investment Partners LLC’s holdings in BlackRock were worth $1,982,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock during the fourth quarter worth about $27,000. LFA Lugano Financial Advisors SA lifted its holdings in 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. bought a new position in BlackRock in the fourth quarter worth about $32,000. Tyler Stone Wealth Management bought a new position in BlackRock in the second quarter worth about $33,000. Finally, Exchange Traded Concepts LLC lifted 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 worth $35,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK traded up $2.68 during mid-day trading on Friday, reaching $749.98. 867,880 shares of the company traded hands, compared to its average volume of 641,054. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The firm has a market cap of $111.70 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The stock has a fifty day simple moving average of $805.02 and a 200-day simple moving average of $755.87.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion for 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 firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.93 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,511 shares of company stock worth $71,864,028. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

BLK has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. UBS Group raised 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. Morgan Stanley raised 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, April 15th. Keefe, Bruyette & Woods restated 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. Finally, 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 research note on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.