Israel Discount Bank of New York Cuts Stock Position in BlackRock, Inc. (NYSE:BLK)

Israel Discount Bank of New York trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429 shares of the asset manager’s stock after selling 28 shares during the quarter. Israel Discount Bank of New York’s holdings in BlackRock were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its holdings in shares of BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Manning & Napier Group LLC boosted its position in BlackRock by 0.6% in the third quarter. Manning & Napier Group LLC now owns 3,997 shares of the asset manager’s stock valued at $2,584,000 after buying an additional 22 shares in the last quarter. Avestar Capital LLC increased its holdings in BlackRock by 30.1% in the third quarter. Avestar Capital LLC now owns 458 shares of the asset manager’s stock valued at $296,000 after purchasing an additional 106 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in BlackRock by 1.6% in the third quarter. Commonwealth Equity Services LLC now owns 42,689 shares of the asset manager’s stock worth $27,598,000 after purchasing an additional 675 shares during the period. Finally, FAS Wealth Partners Inc. increased its position in shares of BlackRock by 4.7% in the 3rd quarter. FAS Wealth Partners Inc. now owns 843 shares of the asset manager’s stock valued at $545,000 after buying an additional 38 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.8 %

Shares of BLK stock traded down $5.76 during trading hours on Monday, reaching $757.12. 291,697 shares of the company’s stock were exchanged, compared to its average volume of 621,596. The stock has a market cap of $112.77 billion, a PE ratio of 19.35, a PEG ratio of 1.58 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $802.08 and its two-hundred day moving average price is $761.81. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $7.93 EPS. Research analysts predict that BlackRock, Inc. will post 41.19 EPS for the current year.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 5,975 shares in the company, valued at $4,691,032.25. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock worth $66,778,367 in the last 90 days. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research reports. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group boosted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $845.42.

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.