Becker Capital Management Inc. trimmed its position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 3.5% during the 4th quarter, Holdings Channel reports. The firm owned 51,131 shares of the asset manager’s stock after selling 1,878 shares during the period. BlackRock comprises 1.7% of Becker Capital Management Inc.’s investment portfolio, making the stock its 15th biggest position. Becker Capital Management Inc.’s holdings in BlackRock were worth $52,415,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of BLK. Norges Bank purchased a new stake in shares of BlackRock during the fourth quarter worth about $2,356,357,000. Proficio Capital Partners LLC boosted its position in shares of BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after acquiring an additional 633,779 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in BlackRock during the fourth quarter valued at $572,730,000. Amundi bought a new stake in BlackRock in the 4th quarter valued at $528,792,000. Finally, Montrusco Bolton Investments Inc. purchased a new stake in shares of BlackRock in the fourth quarter worth about $343,976,000. Institutional investors own 80.69% of the company’s stock.
Insider Activity
In other news, Director J. Richard Kushel sold 430 shares of BlackRock stock in a transaction on Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the sale, the director now directly owns 3,720 shares in the company, valued at approximately $3,531,656.40. The trade was a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 22,430 shares of company stock worth $21,963,649 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.
BlackRock Trading Up 0.8 %
BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $9.81 earnings per share. As a group, equities research analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
BLK has been the topic of several research reports. Wells Fargo & Company reduced their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Morgan Stanley cut their target price on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. UBS Group lowered their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. StockNews.com began coverage on shares of BlackRock in a research report on Wednesday. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,077.08.
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.
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