BlackRock, Inc. (NYSE:BLK) Shares Sold by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. lowered its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,887 shares of the asset manager’s stock after selling 3,555 shares during the period. BlackRock accounts for 2.7% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 18th largest holding. Tandem Investment Advisors Inc. owned 0.06% of BlackRock worth $67,287,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in BlackRock during the 4th quarter worth $1,037,009,000. Moneta Group Investment Advisors LLC raised its position in BlackRock by 104,159.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager’s stock worth $494,269,000 after buying an additional 696,830 shares during the last quarter. International Assets Investment Management LLC raised its position in BlackRock by 77,524.5% during the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after buying an additional 641,128 shares during the last quarter. FMR LLC raised its position in BlackRock by 22.0% during the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after buying an additional 379,631 shares during the last quarter. Finally, Invesco Ltd. raised its position in BlackRock by 84.4% during the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after buying an additional 340,792 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Morgan Stanley raised their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods reissued 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. Finally, JPMorgan Chase & Co. raised 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $811.43.

BlackRock Stock Up 0.5 %

Shares of BLK traded up $4.08 during mid-day trading on Wednesday, reaching $753.75. 585,432 shares of the stock traded hands, compared to its average volume of 627,427. The firm has a market cap of $112.26 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.53 and a beta of 1.37. The stock has a fifty day simple moving average of $807.70 and a 200 day simple moving average of $755.20. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. 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 posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.93 earnings per share. Sell-side analysts expect that BlackRock, Inc. will post 41.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other BlackRock news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,511 shares of company stock worth $71,864,028. Insiders own 0.90% of the company’s stock.

BlackRock 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.