PFG Investments LLC Boosts Stock Position in BlackRock, Inc. (NYSE:BLK)

PFG Investments LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 44.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 697 shares of the asset manager’s stock after buying an additional 215 shares during the period. PFG Investments LLC’s holdings in BlackRock were worth $581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Emerald Advisors LLC grew its position in shares of BlackRock by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in BlackRock by 1.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after buying an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after buying an additional 60 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of BlackRock during the fourth quarter valued at approximately $439,000. Finally, Patten & Patten Inc. TN acquired a new stake in shares of BlackRock in the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.2 %

BLK traded down $1.60 during trading hours on Monday, reaching $761.28. The company’s stock had a trading volume of 483,707 shares, compared to its average volume of 624,333. The stock has a market cap of $113.39 billion, a PE ratio of 19.35, a P/E/G ratio of 1.58 and a beta of 1.37. 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 business’s 50-day moving average is $801.42 and its 200-day moving average is $762.69.

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

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 3,418 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the sale, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the transaction, the director now owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the firm’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 transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $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 90 days. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on BLK. Keefe, Bruyette & Woods reissued 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. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group upped their price objective 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. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Morgan Stanley upped their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target 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.