286 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by Centric Wealth Management

Centric Wealth Management acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 286 shares of the asset manager’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLK. International Assets Investment Management LLC grew its holdings in BlackRock by 77,524.5% during the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after acquiring an additional 641,128 shares during the period. FMR LLC increased its holdings in shares of BlackRock by 22.0% during the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after purchasing an additional 379,631 shares in the last quarter. Invesco Ltd. lifted its stake in shares of BlackRock by 84.4% in the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock valued at $481,486,000 after purchasing an additional 340,792 shares during the period. Wellington Management Group LLP boosted its holdings in BlackRock by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after buying an additional 307,516 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in BlackRock by 24.3% during the third quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock valued at $461,446,000 after buying an additional 139,570 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the business’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 transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,087 shares of company stock worth $57,814,366. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of BlackRock stock traded up $6.31 during mid-day trading on Tuesday, hitting $780.95. The stock had a trading volume of 777,395 shares, compared to its average volume of 620,987. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. 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 firm has a market cap of $116.31 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The firm has a 50-day moving average of $796.34 and a two-hundred day moving average of $768.53.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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. 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 analysts’ expectations of $4.65 billion. During the same quarter last year, the company posted $7.93 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BLK shares. Keefe, Bruyette & Woods reissued 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. UBS Group increased their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley increased their target price 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. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

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.