Oakworth Capital Inc. Decreases Position in BlackRock, Inc. (NYSE:BLK)

Oakworth Capital Inc. lessened its stake in BlackRock, Inc. (NYSE:BLK) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 779 shares of the asset manager’s stock after selling 16 shares during the quarter. Oakworth Capital Inc.’s holdings in BlackRock were worth $632,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in BlackRock during the 4th quarter valued at $44,000. Sfmg LLC boosted its stake in shares of BlackRock by 2.3% during the 4th quarter. Sfmg LLC now owns 4,774 shares of the asset manager’s stock valued at $3,875,000 after buying an additional 106 shares during the last quarter. Tyche Wealth Partners LLC bought a new position in BlackRock during the fourth quarter worth $2,302,000. Arbor Trust Wealth Advisors LLC boosted its holdings in shares of BlackRock by 3.2% in the 4th quarter. Arbor Trust Wealth Advisors LLC now owns 490 shares of the asset manager’s stock valued at $398,000 after buying an additional 15 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BlackRock by 3.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,618 shares of the asset manager’s stock worth $47,586,000 after acquiring an additional 2,082 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The sale was disclosed in a document filed with the SEC, which is available at this link. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock valued at $71,864,028 in the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.6 %

BLK traded up $4.18 on Wednesday, reaching $753.85. 431,099 shares of the company traded hands, compared to its average volume of 624,876. The company has a market cap of $112.28 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.53 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The stock’s 50 day moving average price is $807.70 and its 200-day moving average price is $755.20. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. BlackRock’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $7.93 EPS. On average, sell-side analysts expect that BlackRock, Inc. will post 41.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLK. UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. 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 report on Tuesday, January 16th. Morgan Stanley boosted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $811.43.

About BlackRock

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.