Point72 Europe London LLP Sells 1,500 Shares of BlackRock, Inc. (NYSE:BLK)

Point72 Europe London LLP decreased its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 24.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,600 shares of the asset manager's stock after selling 1,500 shares during the period. Point72 Europe London LLP's holdings in BlackRock were worth $4,716,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brookstone Capital Management raised its stake in shares of BlackRock by 9.4% during the fourth quarter. Brookstone Capital Management now owns 1,014 shares of the asset manager's stock worth $1,039,000 after acquiring an additional 87 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in shares of BlackRock by 3.2% during the 4th quarter. Capital Investment Advisors LLC now owns 1,456 shares of the asset manager's stock valued at $1,492,000 after purchasing an additional 45 shares during the last quarter. Salem Investment Counselors Inc. raised its position in BlackRock by 244.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 210 shares of the asset manager's stock worth $215,000 after purchasing an additional 149 shares during the period. Miracle Mile Advisors LLC lifted its stake in BlackRock by 2.5% in the fourth quarter. Miracle Mile Advisors LLC now owns 579 shares of the asset manager's stock worth $593,000 after purchasing an additional 14 shares during the last quarter. Finally, Fiduciary Financial Group LLC purchased a new stake in BlackRock during the fourth quarter valued at about $216,000. Institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BLK shares. TD Cowen lowered their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. UBS Group dropped their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Bank of America decreased their target price on shares of 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. Barclays increased their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Finally, StockNews.com initiated coverage on shares of BlackRock in a research report on Thursday, May 8th. They issued a "hold" rating on the stock. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,077.08.

BlackRock Price Performance

BLK opened at $965.81 on Thursday. The stock has a 50-day moving average price of $913.18 and a 200-day moving average price of $978.07. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm has a market cap of $149.94 billion, a PE ratio of 23.00, a P/E/G ratio of 1.90 and a beta of 1.41.

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

Insider Activity

In related news, Director J. Richard Kushel sold 2,000 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the transaction, the director now owns 66,034 shares of the company's stock, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 12,430 shares of company stock valued at $11,237,249 in the last quarter. 1.98% of the stock is currently owned by insiders.

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.

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