Mackenzie Financial Corp Has $75.09 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Mackenzie Financial Corp increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,499 shares of the asset manager’s stock after purchasing an additional 1,693 shares during the quarter. Mackenzie Financial Corp’s holdings in BlackRock were worth $75,091,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners bought a new stake in BlackRock during the fourth quarter worth $27,000. LFA Lugano Financial Advisors SA raised its position in shares of BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares during the period. Tyler Stone Wealth Management bought a new stake in shares of BlackRock during the 2nd quarter worth about $33,000. FSC Wealth Advisors LLC bought a new position in BlackRock in the 4th quarter valued at about $40,000. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of BlackRock by 96.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK stock opened at $762.99 on Tuesday. The firm has a market cap of $113.64 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $808.48 and a 200-day moving average price of $754.48. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00.

BlackRock (NYSE:BLK) last issued 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 business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $7.93 earnings per share. As a group, equities research analysts expect that BlackRock, Inc. will post 41.35 earnings per share for the current year.

Insider Buying and Selling

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the sale, the director now directly owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now owns 11,914 shares in the company, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock valued at $71,864,028 over the last ninety days. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of several research reports. UBS Group lifted their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday. TD Cowen upgraded shares of 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 research note on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Morgan Stanley lifted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $811.43.

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.