Desjardins Global Asset Management Inc. Has $1.03 Million Position in BlackRock, Inc. (NYSE:BLK)

Desjardins Global Asset Management Inc. increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,265 shares of the asset manager’s stock after purchasing an additional 16 shares during the period. Desjardins Global Asset Management Inc.’s holdings in BlackRock were worth $1,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BLK. Morgan Stanley raised its holdings in shares of BlackRock by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after buying an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in BlackRock by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after acquiring an additional 35,161 shares in the last quarter. FMR LLC boosted its stake in shares of BlackRock by 22.0% in 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. Northern Trust Corp grew its holdings in shares of BlackRock by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock valued at $1,463,536,000 after purchasing an additional 15,290 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in BlackRock by 21.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after purchasing an additional 307,516 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, CFO Martin Small sold 7,036 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $786.36, for a total value of $5,532,828.96. Following the transaction, the chief financial officer now directly owns 5,259 shares in the company, valued at $4,135,467.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction 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 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. In the last three months, insiders have sold 100,511 shares of company stock worth $71,864,028. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $753.75 on Thursday. The stock has a market cap of $112.27 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.53 and a beta of 1.37. The business’s fifty day moving average is $806.88 and its 200 day moving average is $755.19. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm 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 company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.93 earnings per share. Sell-side analysts anticipate that BlackRock, Inc. will post 41.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BLK shares. JPMorgan Chase & Co. raised 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. Keefe, Bruyette & Woods reaffirmed 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. UBS Group lifted their target price 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. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and upped their target price for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Morgan Stanley lifted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

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.