Comerica Bank Trims Holdings in BlackRock, Inc. (NYSE:BLK)

Comerica Bank reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,073 shares of the asset manager’s stock after selling 1,237 shares during the period. Comerica Bank’s holdings in BlackRock were worth $22,015,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Probity Advisors Inc. acquired a new position in shares of BlackRock during the first quarter worth approximately $737,000. Csenge Advisory Group increased its holdings in shares of BlackRock by 46.3% in the first quarter. Csenge Advisory Group now owns 1,725 shares of the asset manager’s stock worth $1,394,000 after acquiring an additional 546 shares in the last quarter. JGP Wealth Management LLC grew its holdings in shares of BlackRock by 0.7% during the first quarter. JGP Wealth Management LLC now owns 12,048 shares of the asset manager’s stock worth $9,084,000 after buying an additional 82 shares in the last quarter. Front Row Advisors LLC lifted its position in shares of BlackRock by 5.2% in the first quarter. Front Row Advisors LLC now owns 3,861 shares of the asset manager’s stock valued at $2,911,000 after buying an additional 191 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in BlackRock by 19.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 590 shares of the asset manager’s stock worth $482,000 after purchasing an additional 94 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Gary Shedlin sold 3,206 shares of the stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $730.41, for a total transaction of $2,341,694.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marc D. Comerchero sold 600 shares of the business’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $808.38, for a total transaction of $485,028.00. The disclosure for this sale can be found here. Insiders sold 13,499 shares of company stock valued at $10,408,036 over the last 90 days. 1.42% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $847.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, April 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on BlackRock from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, April 22nd. Citigroup lifted their target price on shares of BlackRock from $950.00 to $1,000.00 in a report on Friday, April 16th. Wells Fargo & Company lifted their target price on shares of BlackRock from $875.00 to $890.00 and gave the company an “overweight” rating in a research note on Tuesday, April 13th. Finally, Argus upped their price target on shares of BlackRock from $845.00 to $915.00 and gave the company a “buy” rating in a report on Thursday, April 22nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. BlackRock presently has an average rating of “Buy” and a consensus price target of $858.23.

Shares of BLK opened at $825.62 on Tuesday. BlackRock, Inc. has a 52-week low of $451.35 and a 52-week high of $832.40. The business’s fifty day moving average is $778.84 and its 200-day moving average is $718.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.01. The firm has a market cap of $126.02 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.88 and a beta of 1.16.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, April 14th. The asset manager reported $7.77 EPS for the quarter, topping analysts’ consensus estimates of $7.64 by $0.13. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. BlackRock had a return on equity of 15.74% and a net margin of 30.43%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.60 EPS. As a group, research analysts forecast that BlackRock, Inc. will post 36.68 EPS for the current fiscal year.

About BlackRock

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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