BlackRock, Inc. (NYSE:BLK) Shares Purchased by Northern Financial Advisors Inc

Northern Financial Advisors Inc raised its holdings in BlackRock, Inc. (NYSE:BLK) by 49.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 834 shares of the asset manager’s stock after acquiring an additional 276 shares during the quarter. Northern Financial Advisors Inc’s holdings in BlackRock were worth $677,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BLK. Tennessee Valley Asset Management Partners purchased a new position in shares of BlackRock in the fourth quarter valued at $27,000. LFA Lugano Financial Advisors SA lifted its position in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in BlackRock during the 4th quarter worth approximately $32,000. Knuff & Co LLC increased its holdings in BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after purchasing an additional 13 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE BLK traded down $2.94 during trading on Wednesday, reaching $777.98. The company’s stock had a trading volume of 304,771 shares, compared to its average volume of 617,087. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The firm has a 50 day moving average price of $796.34 and a 200 day moving average price of $768.53. The firm has a market capitalization of $115.87 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. 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 released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.93 EPS. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other BlackRock news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction that occurred on 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 sale, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rachel Lord sold 36,059 shares of the 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 transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold 67,987 shares of company stock worth $55,353,400 in the last 90 days. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley increased their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. lifted their target price 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, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three equities 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 has an average rating of “Moderate Buy” and an average price target of $845.42.

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.