Allspring Global Investments Holdings LLC Sells 4,379 Shares of BlackRock, Inc. (NYSE:BLK)

Allspring Global Investments Holdings LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 19.1% during the 4th quarter, HoldingsChannel reports. The fund owned 18,540 shares of the asset manager’s stock after selling 4,379 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BlackRock were worth $15,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Abacus Planning Group Inc. raised its stake in 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 acquiring an additional 13 shares in the last quarter. Everhart Financial Group Inc. grew its holdings in shares of BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after purchasing an additional 14 shares during the last quarter. Spreng Capital Management Inc. increased its position in shares of BlackRock by 1.1% during the 4th 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 position in 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 buying an additional 15 shares in the last quarter. Finally, Inscription Capital LLC grew its stake in BlackRock by 1.2% during the fourth 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 last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BLK stock opened at $762.99 on Tuesday. The firm’s 50 day moving average price is $808.48 and its two-hundred day moving average price is $754.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The stock has a market cap of $113.64 billion, a PE ratio of 19.39, a PEG ratio of 1.65 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly 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 return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $7.93 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 41.35 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,511 shares of company stock worth $71,864,028. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BLK. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. raised their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. UBS Group increased their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Morgan Stanley boosted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $811.43.

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.