Atria Wealth Solutions Inc. Boosts Stock Position in BlackRock, Inc. (NYSE:BLK)

Atria Wealth Solutions Inc. increased its holdings in BlackRock, Inc. (NYSE:BLK) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,527 shares of the asset manager’s stock after acquiring an additional 505 shares during the period. Atria Wealth Solutions Inc.’s holdings in BlackRock were worth $7,734,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of BlackRock by 3.2% during the third 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 during the period. Charles Schwab Investment Management Inc. raised its stake in shares of BlackRock by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after acquiring an additional 35,161 shares in the last quarter. FMR LLC raised its stake in shares of BlackRock by 22.0% in the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after acquiring an additional 379,631 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of BlackRock by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after acquiring an additional 307,516 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of BlackRock by 5.0% in the third quarter. Ameriprise Financial Inc. now owns 1,568,890 shares of the asset manager’s stock valued at $1,014,287,000 after acquiring an additional 74,974 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BLK. JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley lifted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. 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 note on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Up 0.7 %

BlackRock stock traded up $5.57 during trading on Friday, reaching $763.22. 34,046 shares of the company’s stock were exchanged, compared to its average volume of 620,636. The company’s 50-day moving average is $802.70 and its two-hundred day moving average is $759.32. 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, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The firm has a market cap of $113.67 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its quarterly 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. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the company earned $7.93 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s 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 owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Rachel Lord sold 36,059 shares of the company’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 sale, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold 82,511 shares of company stock worth $66,778,367 in the last quarter. 0.90% of the stock is owned by corporate insiders.

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.