BlackRock, Inc. (NYSE:BLK) Position Cut by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.4% in the 4th quarter, Holdings Channel reports. The fund owned 20,073 shares of the asset manager’s stock after selling 90 shares during the period. BlackRock comprises 2.3% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 12th biggest holding. Cutler Investment Counsel LLC’s holdings in BlackRock were worth $16,295,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Abacus Planning Group Inc. lifted its holdings in shares of BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares during the period. Everhart Financial Group Inc. increased its position in BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares in the last quarter. Spreng Capital Management Inc. raised its position in BlackRock by 1.1% in the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after purchasing an additional 14 shares during the last quarter. Holderness Investments Co. increased its stake in shares of BlackRock by 2.6% in the 2nd quarter. Holderness Investments Co. now owns 602 shares of the asset manager’s stock valued at $416,000 after buying an additional 15 shares during the period. Finally, Inscription Capital LLC raised its position in shares of BlackRock by 1.2% during the fourth quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock worth $1,034,000 after acquiring an additional 15 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other BlackRock news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the sale, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,511 shares of company stock valued at $71,864,028. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.4 %

NYSE:BLK traded up $2.88 on Friday, reaching $750.18. The company’s stock had a trading volume of 401,456 shares, compared to its average volume of 624,154. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The business’s 50-day moving average price is $805.96 and its two-hundred day moving average price is $755.13. The firm has a market cap of $111.73 billion, a PE ratio of 19.13, a PEG ratio of 1.56 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.93 EPS. Equities research analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on BLK shares. UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley lifted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.