Dover Advisors LLC Has $551,000 Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Dover Advisors LLC cut its holdings in BlackRock, Inc. (NYSE:BLK) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 679 shares of the asset manager’s stock after selling 320 shares during the quarter. Dover Advisors LLC’s holdings in BlackRock were worth $551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Silver Oak Securities Incorporated increased its position in BlackRock by 105.9% in the fourth quarter. Silver Oak Securities Incorporated now owns 420 shares of the asset manager’s stock worth $341,000 after purchasing an additional 216 shares during the period. HHM Wealth Advisors LLC increased its position in BlackRock by 150.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 75 shares of the asset manager’s stock worth $61,000 after purchasing an additional 45 shares during the period. Legacy Capital Wealth Partners LLC bought a new position in BlackRock during the fourth quarter worth about $279,000. Principle Wealth Partners LLC boosted its holdings in BlackRock by 16.4% during the fourth quarter. Principle Wealth Partners LLC now owns 5,806 shares of the asset manager’s stock worth $4,713,000 after buying an additional 818 shares during the last quarter. Finally, PGGM Investments boosted its holdings in BlackRock by 95.1% during the fourth quarter. PGGM Investments now owns 1,346 shares of the asset manager’s stock worth $1,093,000 after buying an additional 656 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

BlackRock Price Performance

Shares of NYSE:BLK traded up $5.23 during trading on Friday, reaching $762.88. 447,939 shares of the company traded hands, compared to its average volume of 683,111. The company’s 50 day moving average is $802.08 and its two-hundred day moving average is $761.81. The firm has a market capitalization of $113.62 billion, a PE ratio of 19.39, a PEG ratio of 1.58 and a beta of 1.37. 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, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the company earned $7.93 EPS. BlackRock’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the sale, the director now owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the sale, the director now owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock valued at $66,778,367 in the last 90 days. 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.