First Horizon Advisors Inc. Acquires 34 Shares of BlackRock, Inc. (NYSE:BLK)

First Horizon Advisors Inc. raised its holdings in BlackRock, Inc. (NYSE:BLK) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,777 shares of the asset manager’s stock after buying an additional 34 shares during the period. First Horizon Advisors Inc.’s holdings in BlackRock were worth $2,254,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BLK. Morgan Stanley grew its position in BlackRock by 3.2% in the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after acquiring an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in BlackRock by 1.1% during 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 increased its position in shares of BlackRock by 22.0% during 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 during the last quarter. Fisher Asset Management LLC raised its holdings in shares of BlackRock by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,015,535 shares of the asset manager’s stock worth $1,636,212,000 after purchasing an additional 47,326 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of BlackRock by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after buying an additional 307,516 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following 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 72,057 shares of company stock worth $58,575,704 in the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.9 %

Shares of BlackRock stock opened at $763.91 on Friday. The firm has a market cap of $113.78 billion, a PE ratio of 19.41, a PEG ratio of 1.57 and a beta of 1.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The company has a 50 day simple moving average of $798.34 and a two-hundred day simple moving average of $763.46.

BlackRock (NYSE:BLK) last announced its 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 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 the consensus estimate of $4.65 billion. During the same period in the previous year, the company posted $7.93 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BLK shares. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Morgan Stanley boosted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group raised their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

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.