Moneco Advisors LLC Decreases Stake in BlackRock $BLK

Moneco Advisors LLC lowered its position in shares of BlackRock (NYSE:BLK) by 82.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 316 shares of the asset manager’s stock after selling 1,435 shares during the quarter. Moneco Advisors LLC’s holdings in BlackRock were worth $339,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Shum Financial Group Inc. grew its holdings in shares of BlackRock by 0.4% during the 4th quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager’s stock worth $2,336,000 after purchasing an additional 9 shares during the period. First Bancorp Inc ME boosted its holdings in BlackRock by 2.9% in the 4th quarter. First Bancorp Inc ME now owns 321 shares of the asset manager’s stock worth $344,000 after acquiring an additional 9 shares during the period. Rather & Kittrell Inc. boosted its holdings in BlackRock by 2.1% in the 4th quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager’s stock worth $461,000 after acquiring an additional 9 shares during the period. Oakworth Capital Inc. boosted its holdings in BlackRock by 1.2% in the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock worth $808,000 after acquiring an additional 9 shares during the period. Finally, Colton Groome Financial Advisors LLC boosted its holdings in BlackRock by 0.9% in the 3rd quarter. Colton Groome Financial Advisors LLC now owns 1,097 shares of the asset manager’s stock worth $1,279,000 after acquiring an additional 10 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $1,081.49 on Friday. The business’s 50 day moving average is $1,009.21 and its two-hundred day moving average is $1,055.57. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The firm has a market cap of $167.88 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the company posted $9.64 EPS. BlackRock’s quarterly revenue was up 27.0% on a year-over-year basis. Analysts forecast that BlackRock will post 52.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BLK shares. BMO Capital Markets upped their price target on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Morgan Stanley upped their price target on BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. The Goldman Sachs Group upped their price target on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Jefferies Financial Group decreased their price target on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Finally, TD Cowen decreased their price target on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,269.06.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $1,083.05, for a total value of $2,166,100.00. Following the transaction, the director directly owned 61,980 shares of the company’s stock, valued at $67,127,439. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the transaction, the chief executive officer directly owned 230,516 shares in the company, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 45,249 shares of company stock valued at $47,671,714. Company insiders own 1.92% of the company’s stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s GIP unit is teaming with Temasek and Abu Dhabi-linked investors to target up to $30 billion in infrastructure deals, a sign that the firm continues to expand its alternative-investments platform and fee-earning asset base. Reuters article
• Positive Sentiment: JPMorgan increased its holdings of BlackRock’s IBIT Bitcoin ETF by 174%, reinforcing institutional demand for BlackRock’s crypto-linked products and supporting the company’s ETF growth story. Cointelegraph article
• Positive Sentiment: BlackRock is also being highlighted for income-focused ETF demand, with several high-yield iShares funds offering yields above 6%, which may keep assets flowing into its ETF franchise. TipRanks article

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.