Nearwater Capital Markets Ltd Takes Position in BlackRock, Inc. (NYSE:BLK)

Nearwater Capital Markets Ltd purchased a new stake in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,000 shares of the asset manager’s stock, valued at approximately $12,301,000.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of BlackRock during the fourth quarter worth about $2,356,357,000. Proficio Capital Partners LLC raised its stake in 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 acquiring an additional 633,779 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in BlackRock during the 4th quarter worth approximately $572,730,000. Amundi purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $528,792,000. Finally, Montrusco Bolton Investments Inc. acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $343,976,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley reduced their target price on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. dropped their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Bank of America reduced their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Finally, TD Cowen dropped their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,077.08.

BlackRock Stock Performance

NYSE BLK opened at $958.98 on Wednesday. The business has a 50 day moving average price of $912.82 and a 200 day moving average price of $978.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market capitalization of $148.88 billion, a P/E ratio of 22.83, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.81 EPS. Sell-side analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 66,034 shares of the company’s stock, valued at $56,261,628.34. This trade represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 12,430 shares of company stock worth $11,237,249. Insiders own 1.98% of the company’s stock.

About BlackRock

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.