GAMMA Investing LLC Makes New $896,000 Investment in BlackRock, Inc. (NYSE:BLK)

GAMMA Investing LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,157 shares of the asset manager’s stock, valued at approximately $896,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BLK. Emerald Advisors LLC boosted its position in shares of BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of BlackRock by 1.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after acquiring an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its position in shares of BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of BlackRock during the 4th quarter valued at approximately $439,000. Finally, Patten & Patten Inc. TN bought a new position in shares of BlackRock during the 4th quarter valued at approximately $205,000. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the sale, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock worth $66,778,367 over the last three months. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on BLK shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group increased their price target 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 BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Morgan Stanley increased their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Performance

Shares of NYSE:BLK traded up $6.57 during trading on Tuesday, hitting $766.68. The stock had a trading volume of 460,845 shares, compared to its average volume of 628,075. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The stock has a market capitalization of $114.19 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37. 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 stock has a 50-day simple moving average of $804.19 and a two-hundred day simple moving average of $758.48.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $7.93 earnings per share. On average, equities research analysts expect that BlackRock, Inc. will post 41.19 earnings per share 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.