247 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by Brooktree Capital Management

Brooktree Capital Management purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 247 shares of the asset manager’s stock, valued at approximately $201,000. BlackRock makes up 0.2% of Brooktree Capital Management’s portfolio, making the stock its 29th largest position.

Other large investors have also modified their holdings of the company. Exchange Traded Concepts LLC raised its position in BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after buying an additional 47 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in BlackRock by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 42,689 shares of the asset manager’s stock valued at $27,598,000 after buying an additional 675 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of BlackRock by 7.9% during the third quarter. Hexagon Capital Partners LLC now owns 302 shares of the asset manager’s stock valued at $195,000 after acquiring an additional 22 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of BlackRock by 0.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,011 shares of the asset manager’s stock valued at $13,583,000 after buying an additional 119 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of BlackRock during the third quarter worth $318,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the sale, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock valued at $66,778,367 over the last three months. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BlackRock stock traded up $2.88 during midday trading on Wednesday, hitting $757.52. 112,245 shares of the company were exchanged, compared to its average volume of 615,719. 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 cap of $112.83 billion, a P/E ratio of 19.25, a PEG ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The firm has a 50 day simple moving average of $800.56 and a 200-day simple moving average of $763.59.

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 firm 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 15.34% and a net margin of 32.26%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.93 EPS. Research analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note 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 report on Monday, April 15th. UBS Group upped their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

About BlackRock

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.