Mackenzie Financial Corp Buys 1,693 Shares of BlackRock, Inc. (NYSE:BLK)

Mackenzie Financial Corp boosted its stake in BlackRock, Inc. (NYSE:BLK) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,499 shares of the asset manager’s stock after purchasing an additional 1,693 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of BlackRock worth $75,091,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Abacus Planning Group Inc. boosted its holdings in shares of BlackRock by 4.0% in the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 13 shares during the period. Everhart Financial Group Inc. lifted its stake in BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after acquiring an additional 14 shares during the period. Spreng Capital Management Inc. lifted its stake in BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after acquiring an additional 14 shares during the period. Holderness Investments Co. increased its position in BlackRock by 2.6% during the 2nd quarter. Holderness Investments Co. now owns 602 shares of the asset manager’s stock valued at $416,000 after purchasing an additional 15 shares during the period. Finally, Inscription Capital LLC increased its position in BlackRock by 1.2% during the 4th quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after purchasing an additional 15 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Morgan Stanley increased their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Finally, UBS Group boosted their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $811.43.

BlackRock Stock Down 0.1 %

NYSE:BLK opened at $762.99 on Tuesday. The company’s 50 day moving average is $808.48 and its two-hundred day moving average is $754.48. The company has a market cap of $113.64 billion, a PE ratio of 19.39, a P/E/G ratio of 1.65 and a beta of 1.37. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during 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% on a year-over-year basis. During the same quarter last year, the business posted $7.93 EPS. Analysts anticipate that BlackRock, Inc. will post 41.35 EPS for the current year.

Insider Buying and Selling at BlackRock

In other news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares in the company, valued at approximately $3,366,142.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the sale, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is owned by insiders.

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.