Kestra Private Wealth Services LLC Acquires 145 Shares of BlackRock, Inc. (NYSE:BLK)

Kestra Private Wealth Services LLC lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 2.1% in the fourth quarter, HoldingsChannel reports. The fund owned 6,903 shares of the asset manager’s stock after buying an additional 145 shares during the period. Kestra Private Wealth Services LLC’s holdings in BlackRock were worth $5,604,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Emerald Advisors LLC lifted its holdings in shares of BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after acquiring an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of BlackRock by 1.9% in 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 worth $712,000 after acquiring an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in 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 buying an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in BlackRock during the 4th quarter valued at $439,000. Finally, Patten & Patten Inc. TN bought a new stake in BlackRock in the 4th quarter worth $205,000. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at BlackRock

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

Analysts Set New Price Targets

BLK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up previously 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. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley raised their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Down 0.5 %

Shares of BLK stock traded down $3.77 during mid-day trading on Tuesday, reaching $757.51. 106,128 shares of the company’s stock traded hands, compared to its average volume of 618,037. The company has a market cap of $112.82 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.58 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. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The company’s 50-day moving average price is $801.42 and its 200-day moving average price is $762.69.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.93 EPS. On average, equities analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

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.