Sandy Spring Bank Sells 73 Shares of BlackRock, Inc. (NYSE:BLK)

Sandy Spring Bank lowered its stake in BlackRock, Inc. (NYSE:BLKFree Report) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,171 shares of the asset manager’s stock after selling 73 shares during the period. Sandy Spring Bank’s holdings in BlackRock were worth $11,504,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Emerald Advisors LLC lifted its stake in BlackRock by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after buying an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in BlackRock by 1.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after buying an additional 21 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its stake in BlackRock by 8.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares in the last quarter. Patten & Patten Inc. TN bought a new position in BlackRock in the fourth quarter valued at approximately $205,000. Finally, Sara Bay Financial acquired a new stake in shares of BlackRock in the fourth quarter valued at approximately $387,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.3 %

BLK stock opened at $785.96 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The company has a fifty day moving average price of $809.38 and a two-hundred day moving average price of $751.41. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The stock has a market cap of $117.06 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.24 by $0.57. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the business posted $7.93 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 41.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $798.13.

Check Out Our Latest Research Report on BlackRock

Insider Activity

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following 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 90 days, insiders sold 100,511 shares of company stock valued at $71,864,028. 0.96% of the stock is owned by company insiders.

BlackRock Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLKFree Report).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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