Baxter Bros Inc. Acquires Shares of 360 BlackRock, Inc. (NYSE:BLK)

Baxter Bros Inc. bought a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 360 shares of the asset manager’s stock, valued at approximately $292,000.

A number of other institutional investors also recently modified their holdings of the stock. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the fourth quarter valued at about $27,000. LFA Lugano Financial Advisors SA grew its stake in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in BlackRock in the fourth quarter worth approximately $32,000. Knuff & Co LLC increased its holdings in BlackRock by 48.1% in the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after buying an additional 13 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in BlackRock by 671.4% during the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the sale, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now directly 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. Insiders have sold a total of 72,057 shares of company stock valued at $58,575,704 over the last three months. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on BLK shares. UBS Group increased their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. raised their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley boosted their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Stock Performance

Shares of BLK traded up $6.91 during mid-day trading on Friday, hitting $763.91. The company’s stock had a trading volume of 558,283 shares, compared to its average volume of 689,289. The stock’s 50-day moving average is $797.35 and its two-hundred day moving average is $764.35. The firm has a market capitalization of $113.78 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. 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 one year low of $596.18 and a one year high of $845.00.

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

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.