589 Shares in BlackRock, Inc. (NYSE:BLK) Bought by US Asset Management LLC

US Asset Management LLC purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 589 shares of the asset manager’s stock, valued at approximately $478,000.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. Emerald Advisors LLC boosted its holdings 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 valued at $851,000 after buying an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of BlackRock by 1.9% in the 3rd 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 during the period. McGlone Suttner Wealth Management Inc. increased its position in BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after buying an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in BlackRock in the fourth quarter valued at approximately $439,000. Finally, Patten & Patten Inc. TN bought a new position in shares of BlackRock during the 4th quarter worth approximately $205,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 0.6 %

Shares of NYSE BLK traded up $5.01 during midday trading on Friday, reaching $794.14. The company had a trading volume of 287,615 shares, compared to its average volume of 617,956. The firm’s fifty day moving average price is $795.29 and its 200-day moving average price is $768.75. 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 one year low of $596.18 and a one year high of $845.00. The stock has a market cap of $118.28 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm earned $7.93 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on BLK. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Insiders Place Their Bets

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was 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 approximately $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the firm’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 transaction, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,987 shares of company stock valued at $55,353,400. Company insiders own 0.90% of the company’s stock.

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.