344 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, Holdings Channel reports. The fund acquired 344 shares of the asset manager’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of BlackRock by 77,524.5% during the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after acquiring an additional 641,128 shares during the period. FMR LLC lifted its position in BlackRock by 22.0% during the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after buying an additional 379,631 shares during the period. Invesco Ltd. grew its holdings in BlackRock by 84.4% in the third quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after purchasing an additional 340,792 shares during the period. Wellington Management Group LLP increased its holdings in shares of BlackRock by 21.4% during 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, Envestnet Asset Management Inc. grew its holdings in shares of BlackRock by 24.3% during the third quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock valued at $461,446,000 after buying an additional 139,570 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. lifted their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group boosted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Morgan Stanley increased their target price 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, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $845.42.

Insiders Place Their Bets

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 sale, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, 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 sale, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Small sold 7,036 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total transaction of $5,532,828.96. Following the completion of the sale, the chief financial officer now directly owns 5,259 shares in the company, valued at $4,135,467.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,511 shares of company stock valued at $66,778,367. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.2 %

Shares of BlackRock stock opened at $761.28 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a market cap of $113.39 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.58 and a beta of 1.37. The firm’s 50-day moving average is $801.42 and its two-hundred day moving average is $762.69. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last posted its earnings results 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 for 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 firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.93 earnings per share. As a group, research analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

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.