Transcend Capital Advisors LLC Cuts Holdings in BlackRock, Inc. (NYSE:BLK)

Transcend Capital Advisors LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,583 shares of the asset manager’s stock after selling 47 shares during the period. Transcend Capital Advisors LLC’s holdings in BlackRock were worth $3,720,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock in the 4th quarter valued at about $27,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of BlackRock by 208.3% in 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 during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of BlackRock in the 4th quarter valued at about $32,000. FSC Wealth Advisors LLC bought a new position in shares of BlackRock in the 4th quarter valued at about $40,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of BlackRock by 96.0% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BlackRock Trading Up 0.7 %

Shares of NYSE BLK traded up $5.23 during trading hours on Friday, reaching $762.88. The stock had a trading volume of 447,939 shares, compared to its average volume of 683,111. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a market cap of $113.62 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.57 and a beta of 1.37. The business’s fifty day moving average price is $802.08 and its two-hundred 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 issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.93 earnings per share. Analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the business’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 $335,425,128.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock valued at $66,778,367 over the last 90 days. 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.