Lyell Wealth Management LP Lowers Position in BlackRock, Inc. (NYSE:BLK)

Lyell Wealth Management LP lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,370 shares of the asset manager’s stock after selling 71 shares during the period. Lyell Wealth Management LP’s holdings in BlackRock were worth $4,360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. raised its position in shares of BlackRock by 3.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,237 shares of the asset manager’s stock worth $2,628,000 after buying an additional 123 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in BlackRock by 5.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 9,527 shares of the asset manager’s stock valued at $7,734,000 after purchasing an additional 505 shares in the last quarter. Carret Asset Management LLC purchased a new stake in BlackRock during the fourth quarter valued at about $241,000. Wynn Capital LLC purchased a new stake in BlackRock during the fourth quarter valued at about $1,162,000. Finally, Bfsg LLC purchased a new stake in BlackRock during the fourth quarter valued at about $79,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 0.5 %

Shares of NYSE BLK traded down $4.11 during trading hours on Wednesday, hitting $762.51. The company’s stock had a trading volume of 751,160 shares, compared to its average volume of 629,645. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The stock has a market cap of $113.57 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.57 and a beta of 1.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The business has a 50-day simple moving average of $803.50 and a 200-day simple moving average of $759.33.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $7.93 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BLK shares. Keefe, Bruyette & Woods restated 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. UBS Group raised 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. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Morgan Stanley raised their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $845.42.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BlackRock news, General Counsel Christopher J. Meade sold 3,100 shares of BlackRock stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the sale, the general counsel now directly owns 8,628 shares of the company’s stock, valued at approximately $6,849,424.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold 82,511 shares of company stock valued at $66,778,367 over the last ninety days. 0.90% of the stock is owned by insiders.

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.