American International Group Inc. decreased its position in BlackRock, Inc. (NYSE:BLK) by 0.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,191 shares of the asset manager’s stock after selling 158 shares during the quarter. American International Group Inc.’s holdings in BlackRock were worth $22,305,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Valley National Advisers Inc. raised its stake in shares of BlackRock by 81.8% in the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after buying an additional 27 shares during the period. WESPAC Advisors SoCal LLC bought a new position in shares of BlackRock in the fourth quarter worth about $25,000. Hanson McClain Inc. raised its stake in shares of BlackRock by 425.0% in the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after buying an additional 51 shares during the period. Private Ocean LLC raised its stake in shares of BlackRock by 620.0% in the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after buying an additional 62 shares during the period. Finally, Evolution Wealth Advisors LLC bought a new position in shares of BlackRock in the fourth quarter worth about $33,000. 83.79% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the company. Citigroup raised their price objective on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $491.00 target price for the company in a research report on Tuesday, April 2nd. Barclays increased their target price on BlackRock from $455.00 to $472.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 19th. Morgan Stanley set a $515.00 target price on BlackRock and gave the stock a “buy” rating in a research report on Friday, February 8th. Finally, Argus reiterated a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $509.38.

NYSE:BLK opened at $444.36 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $557.00. The stock has a market cap of $69.97 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.59 and a beta of 1.44.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.13 by $0.48. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.30 billion. BlackRock had a return on equity of 13.46% and a net margin of 30.58%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $6.48 earnings per share. As a group, research analysts anticipate that BlackRock, Inc. will post 27.78 EPS for the current year.

In other BlackRock news, Chairman Laurence Fink sold 31,250 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gary Shedlin sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total value of $1,286,972.50. The disclosure for this sale can be found here. Insiders have sold a total of 40,483 shares of company stock valued at $19,221,303 in the last 90 days. 1.42% of the stock is currently owned by company insiders.

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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