Desjardins Global Asset Management Inc. Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Desjardins Global Asset Management Inc. increased its stake in BlackRock, Inc. (NYSE:BLK) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,265 shares of the asset manager’s stock after acquiring an additional 16 shares during the period. Desjardins Global Asset Management Inc.’s holdings in BlackRock were worth $1,027,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley increased its position in shares of BlackRock by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of BlackRock by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after acquiring an additional 35,161 shares during the last quarter. FMR LLC boosted its stake in shares of BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after purchasing an additional 379,631 shares in the last quarter. Northern Trust Corp grew its holdings in shares of BlackRock by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock valued at $1,463,536,000 after purchasing an additional 15,290 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in BlackRock by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after purchasing an additional 307,516 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several analyst reports. UBS Group increased their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley raised their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Activity at BlackRock

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction that occurred on 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 owns 11,914 shares in the company, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock valued at $71,864,028 over the last ninety days. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $753.75 on Thursday. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $806.88 and a 200-day simple moving average of $755.19. The firm has a market capitalization of $112.27 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.53 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $7.93 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that BlackRock, Inc. will post 41.41 EPS for the current fiscal year.

BlackRock Company 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.