BlackRock, Inc. (NYSE:BLK) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,431 shares of the asset manager’s stock after acquiring an additional 97 shares during the quarter. Wealthspire Advisors LLC’s holdings in BlackRock were worth $1,974,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of BlackRock by 8.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,823 shares of the asset manager’s stock valued at $27,038,000 after purchasing an additional 3,134 shares during the period. Gratus Capital LLC acquired a new stake in shares of BlackRock in the 3rd quarter worth approximately $209,000. Gradient Investments LLC boosted its holdings in shares of BlackRock by 219.0% in the third quarter. Gradient Investments LLC now owns 134 shares of the asset manager’s stock valued at $87,000 after acquiring an additional 92 shares in the last quarter. TIAA Trust National Association acquired a new position in shares of BlackRock during the third quarter valued at approximately $10,210,000. Finally, Skylands Capital LLC raised its holdings in BlackRock by 4.5% during the third quarter. Skylands Capital LLC now owns 3,125 shares of the asset manager’s stock worth $2,020,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Stephen Cohen sold 950 shares of BlackRock 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 sale, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Rachel Lord sold 36,059 shares of the business’s 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 sale, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen Cohen sold 950 shares of the company’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 owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. In the last three months, insiders sold 67,987 shares of company stock worth $55,353,400. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BLK shares. JPMorgan Chase & Co. lifted their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Morgan Stanley raised their target price 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. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Price Performance

BLK traded up $11.19 during trading on Thursday, hitting $789.52. The company’s stock had a trading volume of 654,796 shares, compared to its average volume of 621,527. The firm’s 50 day moving average price is $795.72 and its two-hundred day moving average price is $768.60. 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 stock has a market capitalization of $117.59 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00.

BlackRock (NYSE:BLK) last released its earnings results 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 for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.93 EPS. Sell-side analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

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.