Signature Wealth Management Group increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,328 shares of the asset manager’s stock after buying an additional 100 shares during the quarter. Signature Wealth Management Group’s holdings in BlackRock were worth $568,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in BlackRock in the 4th quarter valued at $1,092,934,000. Rehmann Capital Advisory Group grew its stake in BlackRock by 51,763.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock valued at $2,300,000 after purchasing an additional 1,082,370 shares during the period. Pennsylvania Trust Co grew its stake in BlackRock by 5,049.8% in the 1st quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock valued at $44,805,000 after purchasing an additional 1,063,080 shares during the period. Flossbach Von Storch AG lifted its position in shares of BlackRock by 114.1% during the 4th quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock valued at $228,913,000 after buying an additional 310,623 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new position in shares of BlackRock during the 4th quarter valued at $6,039,000. Institutional investors and hedge funds own 83.64% of the company’s stock.
A number of brokerages have recently commented on BLK. Zacks Investment Research cut BlackRock from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Wells Fargo & Co reaffirmed an “average” rating and set a $480.00 price target (up previously from $460.00) on shares of BlackRock in a research report on Wednesday. Citigroup upped their price target on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley upped their price target on BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Barclays reaffirmed a “buy” rating on shares of BlackRock in a research report on Thursday, January 10th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $509.38.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.13 by $0.48. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.30 billion. BlackRock had a return on equity of 13.51% and a net margin of 30.32%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.48 EPS. As a group, research analysts expect that BlackRock, Inc. will post 27.07 EPS for the current year.
In related news, COO Robert L. Goldstein sold 5,133 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $443.00, for a total transaction of $2,273,919.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeff A. Smith sold 225 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $431.01, for a total value of $96,977.25. The disclosure for this sale can be found here. Insiders have sold a total of 138,950 shares of company stock worth $57,914,555 in the last three months. 1.75% of the stock is currently owned by insiders.
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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.
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