Hyman Charles D Increases Stake in BlackRock, Inc. (NYSE:BLK)

Hyman Charles D grew its stake in BlackRock, Inc. (NYSE:BLK) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,488 shares of the asset manager’s stock after purchasing an additional 42 shares during the period. Hyman Charles D’s holdings in BlackRock were worth $1,208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Everpar Advisors LLC acquired a new position in shares of BlackRock in the fourth quarter worth about $574,000. Gryphon Financial Partners LLC acquired a new stake in BlackRock in the fourth quarter valued at approximately $354,000. ShoreHaven Wealth Partners LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $243,000. Barlow Wealth Partners Inc. acquired a new position in shares of BlackRock during the 4th quarter worth approximately $939,000. Finally, Centric Wealth Management purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BLK. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on 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 raised 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. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Performance

Shares of BLK stock traded up $6.31 during trading hours on Tuesday, reaching $780.95. 777,395 shares of the company’s stock were exchanged, compared to its average volume of 620,987. The company’s 50 day moving average is $796.34 and its two-hundred day moving average is $768.53. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company 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 company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48.

BlackRock (NYSE:BLK) last posted its quarterly 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 business had revenue of $4.73 billion for 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 business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.93 EPS. Equities research analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Activity

In other BlackRock news, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were 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 directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Stephen Cohen sold 950 shares of the company’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 value of $765,272.50. Following the sale, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction on 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 sale, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. In the last three months, insiders sold 71,087 shares of company stock worth $57,814,366. Company insiders own 0.90% of the company’s stock.

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.