445 Shares in BlackRock, Inc. (NYSE:BLK) Bought by MJP Associates Inc. ADV

MJP Associates Inc. ADV bought a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 445 shares of the asset manager’s stock, valued at approximately $456,000.

A number of other institutional investors have also modified their holdings of BLK. Norges Bank purchased a new position in shares of BlackRock during the 4th quarter valued at about $2,356,357,000. Proficio Capital Partners LLC raised its stake in shares of BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock valued at $634,000 after buying an additional 633,779 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at about $572,730,000. Amundi purchased a new position in shares of BlackRock in the 4th quarter valued at about $528,792,000. Finally, Montrusco Bolton Investments Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at about $343,976,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 430 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the sale, the director now owns 3,720 shares in the company, valued at $3,531,656.40. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 12,430 shares of company stock worth $11,237,249 over the last 90 days. Company insiders own 1.98% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $923.48 on Monday. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The company has a market capitalization of $143.37 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The firm has a 50-day simple moving average of $913.01 and a 200-day simple moving average of $978.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on BLK shares. Wells Fargo & Company cut their price target on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Citigroup decreased their price objective on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Morgan Stanley decreased their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, BlackRock presently has a consensus 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.