Apollon Wealth Management LLC Has $6.86 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Apollon Wealth Management LLC boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 21.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,454 shares of the asset manager’s stock after acquiring an additional 1,491 shares during the quarter. Apollon Wealth Management LLC’s holdings in BlackRock were worth $6,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its stake in BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 47 shares during the period. Brown Advisory Inc. increased its position in BlackRock by 2.1% during the third quarter. Brown Advisory Inc. now owns 72,382 shares of the asset manager’s stock worth $46,795,000 after acquiring an additional 1,457 shares during the period. Everhart Financial Group Inc. raised its stake in BlackRock by 8.2% in the 3rd quarter. Everhart Financial Group Inc. now owns 436 shares of the asset manager’s stock worth $282,000 after purchasing an additional 33 shares in the last quarter. JB Capital LLC boosted its holdings in BlackRock by 16.1% in the 3rd quarter. JB Capital LLC now owns 9,186 shares of the asset manager’s stock valued at $5,938,000 after purchasing an additional 1,274 shares during the period. Finally, Verdence Capital Advisors LLC grew its position in shares of BlackRock by 26.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,364 shares of the asset manager’s stock worth $882,000 after purchasing an additional 289 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.8 %

BlackRock stock traded up $6.31 during trading hours on Tuesday, hitting $780.95. The stock had a trading volume of 777,395 shares, compared to its average volume of 620,987. The stock has a market cap of $116.31 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 1.58 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The business’s 50 day simple moving average is $796.73 and its 200-day simple moving average is $767.36. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

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

Insiders Place Their Bets

In other news, General Counsel Christopher J. Meade sold 3,100 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the completion of the transaction, the general counsel now directly owns 8,628 shares in the company, valued at $6,849,424.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Christopher J. Meade sold 3,100 shares of BlackRock stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total value of $2,460,966.00. Following the completion of the sale, the general counsel now owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,087 shares of company stock valued at $57,814,366. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BLK. JPMorgan Chase & Co. lifted their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. UBS Group lifted 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. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

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.