Geneos Wealth Management Inc. Decreases Position in BlackRock, Inc. (NYSE:BLK)

Geneos Wealth Management Inc. lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 21.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 564 shares of the asset manager’s stock after selling 152 shares during the quarter. Geneos Wealth Management Inc.’s holdings in BlackRock were worth $458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Emerald Advisors LLC increased its position in shares of BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of BlackRock by 1.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after acquiring an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. increased its position in shares of BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 60 shares during the period. Patten & Patten Inc. TN acquired a new position in shares of BlackRock in the 4th quarter valued at $205,000. Finally, Sara Bay Financial acquired a new position in shares of BlackRock in the 4th quarter valued at $387,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 2.9 %

Shares of BLK stock opened at $763.40 on Friday. 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 cap of $113.70 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.69 and a beta of 1.37. The stock has a 50 day simple moving average of $808.88 and a 200-day simple moving average of $752.88. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.93 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 41.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $802.29.

Insider Transactions at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the business’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 directly owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Christopher J. Meade sold 18,000 shares of the business’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 directly owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the sale, the insider now owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock valued at $71,864,028 in the last three months. 0.96% of the stock is currently owned by company insiders.

BlackRock Company 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.