Forte Capital LLC ADV Reduces Stock Position in BlackRock, Inc. (NYSE:BLK)

Forte Capital LLC ADV cut its stake in BlackRock, Inc. (NYSE:BLK) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,052 shares of the asset manager’s stock after selling 372 shares during the quarter. BlackRock accounts for about 1.1% of Forte Capital LLC ADV’s investment portfolio, making the stock its 27th largest holding. Forte Capital LLC ADV’s holdings in BlackRock were worth $8,160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BLK. Abacus Planning Group Inc. grew its stake in BlackRock by 4.0% during the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 13 shares during the last quarter. Knuff & Co LLC lifted its holdings in shares of BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after buying an additional 13 shares during the period. Everhart Financial Group Inc. lifted its holdings in shares of BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after buying an additional 14 shares during the period. Spreng Capital Management Inc. lifted its holdings in shares of BlackRock by 1.1% in the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after buying an additional 14 shares during the period. Finally, Inscription Capital LLC lifted its holdings in shares of BlackRock by 1.2% in the 4th quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after buying an additional 15 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of BlackRock stock traded up $6.91 during mid-day trading on Friday, reaching $763.91. 558,283 shares of the stock traded hands, compared to its average volume of 689,289. The business has a 50-day moving average of $797.35 and a 200 day moving average of $764.35. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The stock has a market capitalization of $113.78 billion, a PE ratio of 19.41, 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 (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 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 business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm earned $7.93 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that BlackRock, Inc. will post 41.19 EPS for the current year.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 520 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $784.69, for a total value of $408,038.80. Following the completion of the transaction, the director now directly owns 4,150 shares in the company, valued at $3,256,463.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 520 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $784.69, for a total value of $408,038.80. Following the completion of the transaction, the director now owns 4,150 shares of the company’s stock, valued at $3,256,463.50. The disclosure for this sale can be found here. Insiders sold 72,057 shares of company stock valued at $58,575,704 over the last quarter. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BLK has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. 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. 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. 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. Finally, TD Cowen raised 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

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.