BlackRock, Inc. (NYSE:BLK) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 18.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 328,293 shares of the asset manager’s stock after selling 74,263 shares during the period. Truist Financial Corp owned about 0.22% of BlackRock worth $266,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BLK. Spinnaker Trust increased its position in shares of BlackRock by 1.8% in the fourth quarter. Spinnaker Trust now owns 10,052 shares of the asset manager’s stock worth $8,160,000 after acquiring an additional 179 shares in the last quarter. Kovack Advisors Inc. boosted its stake in BlackRock by 12.0% in the 4th quarter. Kovack Advisors Inc. now owns 569 shares of the asset manager’s stock worth $462,000 after purchasing an additional 61 shares during the period. First Fiduciary Investment Counsel Inc. grew its position in BlackRock by 3.2% during the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 19,116 shares of the asset manager’s stock worth $15,518,000 after purchasing an additional 594 shares in the last quarter. Abbrea Capital LLC raised its stake in BlackRock by 9.5% during the 4th quarter. Abbrea Capital LLC now owns 1,615 shares of the asset manager’s stock valued at $1,311,000 after purchasing an additional 140 shares during the period. Finally, Syon Capital LLC lifted its holdings in shares of BlackRock by 28.7% in the fourth quarter. Syon Capital LLC now owns 1,511 shares of the asset manager’s stock valued at $1,226,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction that occurred 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 $4,691,032.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Christopher J. Meade sold 3,100 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total value of $2,460,966.00. Following the completion of the transaction, the general counsel now directly owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,511 shares of company stock worth $66,778,367. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BLK shares. Morgan Stanley lifted their price target 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 company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, UBS Group increased their target price 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Performance

Shares of NYSE:BLK traded up $5.18 during midday trading on Friday, hitting $762.83. The company’s stock had a trading volume of 447,925 shares, compared to its average volume of 625,928. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. 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 capitalization of $113.62 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.58 and a beta of 1.37. The stock’s 50 day simple moving average is $802.08 and its 200 day simple moving average is $760.15.

BlackRock (NYSE:BLK) last released its earnings results 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. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $7.93 EPS. The company’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current year.

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.