AE Wealth Management LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 27.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,227 shares of the asset manager’s stock after selling 1,960 shares during the quarter. AE Wealth Management LLC’s holdings in BlackRock were worth $2,300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Shields Capital Management LLC lifted its holdings in shares of BlackRock by 128.1% during the first quarter. Wellington Shields Capital Management LLC now owns 10,365 shares of the asset manager’s stock valued at $4,560,000 after purchasing an additional 5,820 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in BlackRock by 8.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,755 shares of the asset manager’s stock valued at $1,652,000 after buying an additional 290 shares during the period. Corient Capital Partners LLC raised its position in BlackRock by 15.5% during the first quarter. Corient Capital Partners LLC now owns 10,126 shares of the asset manager’s stock valued at $4,455,000 after buying an additional 1,356 shares during the period. First Trust Advisors LP increased its position in BlackRock by 11.4% in the 1st quarter. First Trust Advisors LP now owns 128,357 shares of the asset manager’s stock worth $56,473,000 after purchasing an additional 13,104 shares during the last quarter. Finally, First Manhattan Co. increased its position in BlackRock by 26.8% in the 1st quarter. First Manhattan Co. now owns 828 shares of the asset manager’s stock worth $364,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 83.16% of the company’s stock.

In other news, Director Rachel Lord sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $499.31, for a total value of $1,497,930.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Gary Shedlin sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $571.49, for a total value of $2,285,960.00. The disclosure for this sale can be found here. Insiders sold a total of 101,845 shares of company stock valued at $49,180,623 over the last three months. Insiders own 1.42% of the company’s stock.

BLK stock opened at $513.73 on Friday. The business has a fifty day moving average price of $464.50 and a 200 day moving average price of $487.88. The stock has a market capitalization of $77.22 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.77 and a beta of 1.28. BlackRock, Inc. has a fifty-two week low of $323.98 and a fifty-two week high of $576.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.48 and a quick ratio of 2.48.

BlackRock (NYSE:BLK) last released its earnings results on Thursday, April 16th. The asset manager reported $6.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.36 by $0.24. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.68 billion. BlackRock had a return on equity of 13.66% and a net margin of 28.38%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $6.61 EPS. On average, equities analysts expect that BlackRock, Inc. will post 25.65 earnings per share for the current fiscal year.

Several brokerages have weighed in on BLK. Credit Suisse Group upped their target price on BlackRock from $534.00 to $552.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Wells Fargo & Co increased their price objective on BlackRock from $495.00 to $530.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley increased their target price on BlackRock from $515.00 to $560.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Barclays increased their target price on BlackRock from $495.00 to $515.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Bank of America decreased their target price on BlackRock from $485.00 to $383.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. BlackRock currently has an average rating of “Buy” and an average target price of $510.91.

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.

Further Reading: Net Income

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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