AMG National Trust Bank Sells 38 Shares of BlackRock, Inc. (NYSE:BLK)

AMG National Trust Bank cut its stake in BlackRock, Inc. (NYSE:BLKGet Rating) by 2.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,253 shares of the asset manager’s stock after selling 38 shares during the period. AMG National Trust Bank’s holdings in BlackRock were worth $1,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kistler Tiffany Companies LLC grew its holdings in BlackRock by 2.3% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 482 shares of the asset manager’s stock worth $404,000 after acquiring an additional 11 shares in the last quarter. Meridian Wealth Advisors LLC grew its holdings in BlackRock by 1.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 913 shares of the asset manager’s stock worth $766,000 after acquiring an additional 11 shares in the last quarter. Modera Wealth Management LLC grew its holdings in BlackRock by 2.2% during the 3rd quarter. Modera Wealth Management LLC now owns 558 shares of the asset manager’s stock worth $468,000 after acquiring an additional 12 shares in the last quarter. Cape ANN Savings Bank grew its holdings in BlackRock by 0.4% during the 3rd quarter. Cape ANN Savings Bank now owns 2,822 shares of the asset manager’s stock worth $2,367,000 after acquiring an additional 12 shares in the last quarter. Finally, Independent Advisor Alliance boosted its holdings in shares of BlackRock by 1.2% in the 3rd quarter. Independent Advisor Alliance now owns 1,113 shares of the asset manager’s stock valued at $933,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

BLK traded down $3.87 during trading on Monday, reaching $684.30. 2,713 shares of the company’s stock were exchanged, compared to its average volume of 853,629. BlackRock, Inc. has a 1 year low of $660.15 and a 1 year high of $973.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.02 and a quick ratio of 3.02. The stock has a market capitalization of $104.04 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22. The company’s fifty day simple moving average is $739.58 and its 200-day simple moving average is $838.82.

BlackRock (NYSE:BLKGet Rating) last posted its quarterly earnings results on Wednesday, April 13th. The asset manager reported $9.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.18 by $0.34. BlackRock had a net margin of 31.20% and a return on equity of 17.08%. The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the firm posted $7.77 EPS. BlackRock’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts forecast that BlackRock, Inc. will post 40.12 EPS for the current year.

BLK has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of BlackRock from $755.00 to $734.00 and set a “market perform” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock from $865.00 to $803.00 and set a “market perform” rating on the stock in a report on Wednesday, April 13th. The Goldman Sachs Group lowered their price target on shares of BlackRock from $1,000.00 to $800.00 and set a “buy” rating on the stock in a report on Monday, March 14th. Morgan Stanley lowered their price target on shares of BlackRock from $966.00 to $932.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group initiated coverage on shares of BlackRock in a report on Wednesday, April 13th. They issued a “buy” rating and a $873.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $880.00.

In other news, Director Mark Mccombe sold 1,400 shares of BlackRock stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $819.32, for a total transaction of $1,147,048.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.16% of the company’s stock.

BlackRock Company Profile (Get Rating)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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