BlackRock, Inc. (NYSE:BLK) Shares Sold by AIA Group Ltd

AIA Group Ltd lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 36.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,354 shares of the asset manager’s stock after selling 2,500 shares during the quarter. AIA Group Ltd’s holdings in BlackRock were worth $3,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. Morgan Stanley raised its stake in BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in BlackRock by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after acquiring an additional 35,161 shares during the last quarter. FMR LLC boosted its position in BlackRock by 22.0% during the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after acquiring an additional 379,631 shares during the last quarter. Northern Trust Corp grew its stake in BlackRock by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock valued at $1,463,536,000 after acquiring an additional 15,290 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in BlackRock by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after acquiring an additional 307,516 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 36,059 shares of the 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 sale, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 completion of the transaction, the chief executive officer now directly 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 the SEC website. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated 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 sale, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock valued at $71,864,028 in the last three months. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BLK has been the topic of several recent research reports. Keefe, Bruyette & Woods restated 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. Morgan Stanley upped their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday. UBS Group lifted their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Trading Down 0.7 %

Shares of NYSE:BLK traded down $5.26 during mid-day trading on Thursday, reaching $748.53. 433,148 shares of the company were exchanged, compared to its average volume of 624,687. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. 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’s 50-day simple moving average is $806.88 and its 200 day simple moving average is $755.19. The firm has a market cap of $111.49 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.55 and a beta of 1.37.

BlackRock (NYSE:BLK) last released 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. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $7.93 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 41.26 EPS for the current 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.