Cambridge Trust Co. Sells 13,904 Shares of BlackRock, Inc. (NYSE:BLK)

Cambridge Trust Co. trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 43.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,824 shares of the asset manager’s stock after selling 13,904 shares during the quarter. Cambridge Trust Co.’s holdings in BlackRock were worth $14,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Abacus Planning Group Inc. lifted its stake in shares of BlackRock by 4.0% during the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after buying an additional 13 shares in the last quarter. Everhart Financial Group Inc. boosted its position in BlackRock by 3.2% during the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after buying an additional 14 shares during the period. Spreng Capital Management Inc. boosted its position in BlackRock by 1.1% during the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after buying an additional 14 shares during the period. Inscription Capital LLC lifted its position in shares of BlackRock by 1.2% in the 4th quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock worth $1,034,000 after purchasing an additional 15 shares during the period. Finally, ERTS Wealth Advisors LLC lifted its position in shares of BlackRock by 2.9% in the 4th quarter. ERTS Wealth Advisors LLC now owns 538 shares of the asset manager’s stock worth $437,000 after purchasing an additional 15 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Down 0.5 %

BLK traded down $3.86 on Thursday, reaching $749.93. The company’s stock had a trading volume of 363,823 shares, compared to its average volume of 623,826. The stock has a 50 day moving average of $806.88 and a two-hundred day moving average of $755.19. 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 has a market capitalization of $111.69 billion, a price-to-earnings ratio of 19.33, a P/E/G 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.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the company earned $7.93 earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts forecast that BlackRock, Inc. will post 41.26 EPS for the current fiscal year.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 36,059 shares of the 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 sale, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rachel Lord sold 36,059 shares of the firm’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 completion of the sale, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock valued at $71,864,028 over the last quarter. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

BlackRock 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.