BlackRock, Inc. (NYSE:BLK) Shares Sold by AIA Group Ltd

AIA Group Ltd cut its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 36.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,354 shares of the asset manager's stock after selling 2,500 shares during the quarter. AIA Group Ltd's holdings in BlackRock were worth $3,535,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BLK. Abacus Planning Group Inc. boosted its position in shares of BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager's stock worth $271,000 after buying an additional 13 shares during the period. Everhart Financial Group Inc. grew its position in 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 acquiring an additional 14 shares in the last quarter. Spreng Capital Management Inc. lifted its position in shares of BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager's stock worth $1,079,000 after purchasing an additional 14 shares in the last quarter. Holderness Investments Co. boosted its stake in shares of BlackRock by 2.6% in the second quarter. Holderness Investments Co. now owns 602 shares of the asset manager's stock valued at $416,000 after purchasing an additional 15 shares during the period. Finally, Inscription Capital LLC increased its stake in BlackRock by 1.2% during the 4th quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager's stock worth $1,034,000 after buying an additional 15 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK traded down $6.71 during midday trading on Thursday, reaching $747.08. 614,875 shares of the stock were exchanged, compared to its average volume of 627,263. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. 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 market capitalization of $111.27 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.55 and a beta of 1.37. The business's 50-day moving average price is $805.96 and its 200 day moving average price is $755.13.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.93 earnings per share. On average, sell-side analysts expect that BlackRock, Inc. will post 41.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the firm's stock in a transaction that occurred on Monday, January 22nd. The stock was 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 in the company, valued at approximately $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen Cohen sold 950 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock valued at $71,864,028 in the last ninety days. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BLK shares. TD Cowen upgraded shares of BlackRock from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group boosted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a "neutral" rating in a research report on Friday, April 12th. Morgan Stanley raised their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an "overweight" rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $845.42.

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.