Coldstream Capital Management Inc. Cuts Holdings in BlackRock, Inc. (NYSE:BLK)

Coldstream Capital Management Inc. reduced its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,450 shares of the asset manager's stock after selling 552 shares during the quarter. Coldstream Capital Management Inc.'s holdings in BlackRock were worth $7,638,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BLK. Oddo BHF Asset Management Sas acquired a new stake in BlackRock in the third quarter worth $518,000. Amalgamated Bank boosted its holdings in BlackRock by 1.7% in the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after acquiring an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in BlackRock by 4.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock valued at $12,793,000 after acquiring an additional 578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock valued at $67,038,000 after acquiring an additional 4,210 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in shares of BlackRock by 48.2% during the fourth quarter. Artemis Investment Management LLP now owns 39,539 shares of the asset manager's stock worth $40,532,000 after purchasing an additional 12,864 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 22,430 shares of company stock worth $21,963,649 over the last three months. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BLK traded down $16.52 during mid-day trading on Wednesday, reaching $904.00. 358,891 shares of the company traded hands, compared to its average volume of 683,602. BlackRock, Inc. has a 52-week low of $748.78 and a 52-week high of $1,084.22. The company's fifty day moving average price is $919.18 and its 200-day moving average price is $982.91. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $140.35 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.90 and a beta of 1.38.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $9.81 EPS. On average, sell-side analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLK. TD Cowen reduced their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Morgan Stanley decreased their price objective on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Barclays raised their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company cut their price objective on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.

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.