BlackRock, Inc. (NYSE:BLK) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,103 shares of the asset manager’s stock after purchasing an additional 414 shares during the period. Commonwealth Equity Services LLC’s holdings in BlackRock were worth $34,991,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock during the 4th quarter worth about $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 valued at $30,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in BlackRock in the fourth quarter valued at approximately $32,000. FSC Wealth Advisors LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $40,000. Finally, Blue Bell Private Wealth Management LLC lifted its position in shares of BlackRock by 96.0% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock worth $40,000 after buying an additional 24 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were 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 of the company’s stock, valued at $335,425,128.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 sale, 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 filing with the SEC, which is available through this link. Also, General Counsel Christopher J. Meade sold 3,100 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total value of $2,460,966.00. Following the sale, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The disclosure for this sale can be found here. Insiders sold 72,057 shares of company stock valued at $58,575,704 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. 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. Morgan Stanley raised their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, UBS Group lifted their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Up 0.9 %

Shares of BlackRock stock opened at $763.91 on Friday. The company has a market cap of $113.78 billion, a P/E ratio of 19.41, a PEG ratio of 1.58 and a beta of 1.37. The firm has a fifty day moving average of $797.35 and a two-hundred day moving average of $764.35. 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 earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $7.93 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current 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.