Keel Point LLC Raises Position in BlackRock, Inc. (NYSE:BLK)

Keel Point LLC lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 11.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 742 shares of the asset manager’s stock after purchasing an additional 76 shares during the quarter. Keel Point LLC’s holdings in BlackRock were worth $760,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. IAG Wealth Partners LLC acquired a new position in shares of BlackRock during the fourth quarter valued at about $26,000. Collier Financial purchased a new stake in BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new position in BlackRock during the 4th quarter valued at approximately $33,000. Atwood & Palmer Inc. purchased a new position in shares of BlackRock in the fourth quarter worth $36,000. Finally, West Financial Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at $39,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

NYSE:BLK opened at $916.68 on Friday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 52 week low of $748.78 and a 52 week high of $1,084.22. The stock’s 50-day moving average price is $917.28 and its 200-day moving average price is $981.92. The stock has a market capitalization of $142.32 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $9.81 earnings per share. As a group, equities analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares of the company’s stock, valued at $56,261,628.34. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BLK has been the subject of a number of research reports. StockNews.com assumed coverage on BlackRock in a research report on Wednesday. They set a “hold” rating for the company. Wells Fargo & Company dropped their target price on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Morgan Stanley dropped their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,077.08.

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.