Cresset Asset Management LLC Sells 7,334 Shares of BlackRock, Inc. (NYSE:BLK)

Cresset Asset Management LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 45.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,700 shares of the asset manager's stock after selling 7,334 shares during the period. Cresset Asset Management LLC's holdings in BlackRock were worth $8,918,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new position in shares of BlackRock during the fourth quarter valued at approximately $26,000. Collier Financial bought a new position in BlackRock during the 4th quarter valued at approximately $32,000. Compass Planning Associates Inc purchased a new position in BlackRock during the fourth quarter valued at $33,000. Atwood & Palmer Inc. bought a new stake in BlackRock in the fourth quarter worth $36,000. Finally, West Financial Advisors LLC purchased a new stake in shares of BlackRock in the fourth quarter worth $39,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 12,430 shares of company stock worth $11,237,249 in the last three months. Corporate insiders own 1.98% of the company's stock.

BlackRock Trading Up 0.6 %

Shares of NYSE:BLK opened at $920.27 on Thursday. BlackRock, Inc. has a 52-week low of $752.30 and a 52-week high of $1,084.22. The stock has a market capitalization of $142.88 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock's 50-day simple moving average is $914.30 and its two-hundred day simple moving average is $979.54.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same period in the previous year, the business posted $9.81 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. Analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BLK shares. Morgan Stanley dropped their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Barclays upped their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Citigroup reduced their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Bank of America cut their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,077.08.

BlackRock 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.

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