Laurel Wealth Advisors LLC Sells 47 Shares of BlackRock, Inc. (NYSE:BLK)

Laurel Wealth Advisors LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,582 shares of the asset manager’s stock after selling 47 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in BlackRock were worth $1,284,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in BlackRock during the 4th quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new stake in BlackRock during the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA boosted its position in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in BlackRock during the 4th quarter valued at approximately $32,000. Finally, Knuff & Co LLC boosted its position in BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BLK shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. UBS Group boosted their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Morgan Stanley boosted their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Performance

BLK traded up $5.23 during mid-day trading on Friday, reaching $762.88. 447,939 shares of the company traded hands, compared to its average volume of 683,111. The stock has a market capitalization of $113.62 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.57 and a beta of 1.37. 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 company’s fifty day moving average price is $802.08 and its 200-day moving average price is $760.15. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating 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 company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $7.93 EPS. On average, sell-side analysts expect that BlackRock, Inc. will post 41.19 EPS for the current year.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the completion of the transaction, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock worth $66,778,367 in the last three months. Corporate insiders own 0.90% of the company’s stock.

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.