Parkside Financial Bank & Trust Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Parkside Financial Bank & Trust lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637 shares of the asset manager’s stock after buying an additional 18 shares during the quarter. Parkside Financial Bank & Trust’s holdings in BlackRock were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Tennessee Valley Asset Management Partners acquired a new position in BlackRock during the fourth quarter worth $27,000. LFA Lugano Financial Advisors SA raised its holdings in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in BlackRock during the fourth quarter worth $32,000. FSC Wealth Advisors LLC acquired a new position in BlackRock during the fourth quarter worth $40,000. Finally, Blue Bell Private Wealth Management LLC raised its holdings in BlackRock by 96.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock worth $40,000 after purchasing an additional 24 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.8 %

BlackRock stock traded up $6.21 during trading on Tuesday, hitting $766.32. The company’s stock had a trading volume of 273,843 shares, compared to its average volume of 625,543. The stock has a market capitalization of $114.14 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 1.55 and a beta of 1.37. The stock’s fifty day moving average is $804.19 and its 200 day moving average is $758.48. 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.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.93 earnings per share. As a group, equities research analysts predict that BlackRock, Inc. will post 41.19 EPS for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 $3,574,225.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was 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 owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,511 shares of company stock valued at $66,778,367. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Morgan Stanley boosted their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. UBS Group boosted their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. boosted their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.