BlackRock, Inc. (NYSE:BLK) Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 628 shares of the asset manager’s stock after acquiring an additional 16 shares during the period. Resonant Capital Advisors LLC’s holdings in BlackRock were worth $510,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Emerald Advisors LLC boosted its position in shares of BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after buying an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of BlackRock by 1.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after purchasing an additional 21 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its position in shares of BlackRock by 8.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after purchasing an additional 60 shares during the last quarter. Patten & Patten Inc. TN purchased a new position in shares of BlackRock during the 4th quarter worth approximately $205,000. Finally, Sara Bay Financial acquired a new position in shares of BlackRock during the 4th quarter worth approximately $387,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were 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 directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen Cohen sold 950 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,511 shares of company stock valued at $71,864,028. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $749.98 on Friday. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a 50 day moving average price of $805.02 and a 200 day moving average price of $755.87. The company has a market cap of $111.70 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.55 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion during 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 quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $7.93 EPS. Sell-side analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. 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 report on Monday, April 15th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

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.