Barlow Wealth Partners Inc. Purchases New Stake in BlackRock, Inc. (NYSE:BLK)

Barlow Wealth Partners Inc. purchased a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,157 shares of the asset manager’s stock, valued at approximately $939,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Morgan Stanley grew its position in shares of BlackRock by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after buying an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of BlackRock by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after buying an additional 35,161 shares during the last quarter. FMR LLC increased its position in BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after acquiring an additional 379,631 shares during the period. Fisher Asset Management LLC increased its position in shares of BlackRock by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,015,535 shares of the asset manager’s stock valued at $1,636,212,000 after purchasing an additional 47,326 shares during the period. Finally, Wellington Management Group LLP increased its stake in BlackRock by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after purchasing an additional 307,516 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several research reports. UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. 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 boosted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Insiders Place Their Bets

In related news, Director Stephen Cohen sold 950 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the completion of the transaction, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,987 shares of company stock valued at $55,353,400. 0.90% of the stock is currently owned by insiders.

BlackRock Price Performance

Shares of BLK traded down $2.59 during mid-day trading on Wednesday, reaching $778.33. The company had a trading volume of 662,317 shares, compared to its average volume of 621,472. 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 company has a market capitalization of $115.92 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company’s 50-day moving average is $796.34 and its 200-day moving average is $768.53.

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 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 return on equity of 15.34% and a net margin of 32.26%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $7.93 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current year.

BlackRock 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.