Bryn Mawr Capital Management LLC Cuts Position in BlackRock, Inc. (NYSE:BLK)

Bryn Mawr Capital Management LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 27.4% in the 4th quarter, Holdings Channel reports. The fund owned 9,975 shares of the asset manager’s stock after selling 3,766 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in BlackRock were worth $8,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Abbrea Capital LLC lifted its stake in BlackRock by 9.5% in the fourth quarter. Abbrea Capital LLC now owns 1,615 shares of the asset manager’s stock worth $1,311,000 after purchasing an additional 140 shares during the last quarter. Syon Capital LLC lifted its stake in BlackRock by 28.7% in the fourth quarter. Syon Capital LLC now owns 1,511 shares of the asset manager’s stock worth $1,226,000 after purchasing an additional 337 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in BlackRock by 3.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,237 shares of the asset manager’s stock worth $2,628,000 after purchasing an additional 123 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in BlackRock by 5.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,527 shares of the asset manager’s stock worth $7,734,000 after purchasing an additional 505 shares during the last quarter. Finally, Carret Asset Management LLC bought a new stake in BlackRock in the fourth quarter worth $241,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $762.83 on Friday. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year 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’s 50-day moving average is $802.08 and its 200 day moving average is $760.15. The stock has a market capitalization of $113.62 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.57 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company posted $7.93 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the transaction, the director now owns 70,378 shares in the company, valued at approximately $54,972,959.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Martin Small sold 7,036 shares of BlackRock stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total transaction of $5,532,828.96. Following the transaction, the chief financial officer now owns 5,259 shares in the company, valued at approximately $4,135,467.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the transaction, the director now owns 70,378 shares in the company, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,511 shares of company stock worth $66,778,367. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent research reports. 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 research note on Tuesday, April 2nd. Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. UBS Group upped their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $845.42.

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.