Forte Capital LLC ADV Sells 372 Shares of BlackRock, Inc. (NYSE:BLK)

Forte Capital LLC ADV lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,052 shares of the asset manager’s stock after selling 372 shares during the quarter. BlackRock comprises 1.1% of Forte Capital LLC ADV’s investment portfolio, making the stock its 27th biggest holding. Forte Capital LLC ADV’s holdings in BlackRock were worth $8,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in BLK. Vestmark Advisory Solutions Inc. increased its holdings in shares of BlackRock by 2.4% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,088 shares of the asset manager’s stock valued at $3,318,000 after acquiring an additional 95 shares in the last quarter. AJOVista LLC bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $202,000. Baxter Bros Inc. bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $292,000. Legacy Financial Advisors Inc. increased its holdings in shares of BlackRock by 15.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 670 shares of the asset manager’s stock valued at $544,000 after acquiring an additional 91 shares in the last quarter. Finally, Knuff & Co LLC increased its holdings in shares of BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BLK shares. JPMorgan Chase & Co. upped their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley upped their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, UBS Group upped their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Performance

Shares of BLK stock traded up $6.91 on Friday, hitting $763.91. 558,283 shares of the stock were exchanged, compared to its average volume of 689,289. The firm’s 50 day moving average is $797.35 and its two-hundred day moving average is $764.35. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The firm has a market capitalization of $113.78 billion, a PE ratio of 19.41, a P/E/G 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.

BlackRock (NYSE:BLK) last issued its 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. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the business earned $7.93 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In related news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the completion of the transaction, the general counsel now directly owns 8,628 shares in the company, valued at approximately $6,849,424.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction 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 completion of the sale, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,057 shares of company stock worth $58,575,704. Corporate insiders own 0.90% of the company’s stock.

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.