BlackRock, Inc. (NYSE:BLK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,985 shares of the asset manager’s stock after selling 5,393 shares during the period. Federated Hermes Inc.’s holdings in BlackRock were worth $99,839,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BLK. Emerald Advisors LLC raised its position in shares of BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of BlackRock by 1.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after acquiring an additional 21 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its position in shares of BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 60 shares in the last quarter. Patten & Patten Inc. TN acquired a new stake in shares of BlackRock during the 4th quarter valued at approximately $205,000. Finally, Sara Bay Financial acquired a new stake in shares of BlackRock during the 4th quarter valued at approximately $387,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, Morgan Stanley raised their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Transactions at BlackRock

In related news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the transaction, the insider now 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 is available through this link. Also, Director J. Richard Kushel sold 520 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $784.69, for a total value of $408,038.80. Following the completion of the transaction, the director now owns 4,150 shares in the company, valued at approximately $3,256,463.50. 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. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK opened at $747.08 on Friday. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The stock has a market cap of $111.27 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.56 and a beta of 1.37. The business has a 50 day moving average of $805.96 and a 200-day moving average of $755.13. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. BlackRock’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $7.93 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current year.

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.