Davidson Trust Co. Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Davidson Trust Co. bought a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 296 shares of the asset manager’s stock, valued at approximately $240,000.

A number of other large investors have also bought and sold shares of BLK. Tennessee Valley Asset Management Partners purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA boosted its holdings in BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in BlackRock in the second quarter worth $33,000. FSC Wealth Advisors LLC bought a new stake in BlackRock in the fourth quarter worth $40,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of BlackRock by 96.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 24 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on BLK shares. UBS Group upped their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley increased their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Three equities research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Activity at BlackRock

In other BlackRock 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 approximately $3,366,142.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, 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 transaction of $353,299.50. Following the transaction, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock worth $71,864,028 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK traded up $1.41 on Friday, reaching $748.71. 245,183 shares of the stock were exchanged, compared to its average volume of 622,004. The company’s 50-day moving average price is $805.96 and its 200 day moving average price is $755.13. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week 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 firm has a market capitalization of $111.51 billion, a PE ratio of 19.13, a PEG ratio of 1.56 and a beta of 1.37.

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

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.