Davidson Trust Co. Invests $240,000 in BlackRock, Inc. (NYSE:BLK)

Davidson Trust Co. bought a new position in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 296 shares of the asset manager’s stock, valued at approximately $240,000.

Other institutional investors have also recently made changes to their positions in the company. Emerald Advisors LLC grew its stake 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 in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted 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 buying an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its holdings in shares of BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after buying an additional 60 shares during the last quarter. Patten & Patten Inc. TN purchased a new position in shares of BlackRock in the 4th quarter worth about $205,000. Finally, Sara Bay Financial purchased a new position in shares of BlackRock in the 4th quarter worth about $387,000. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BLK. Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company 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 upped their price objective for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group increased 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, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

Insiders Place Their Bets

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the sale, the insider now owns 5,975 shares in the company, valued at $4,691,032.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the transaction, the insider now owns 5,975 shares in the company, valued at $4,691,032.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now owns 11,914 shares in the company, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,511 shares of company stock worth $71,864,028. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Up 0.2 %

Shares of NYSE BLK traded up $1.41 during midday trading on Friday, hitting $748.71. 245,183 shares of the company traded hands, compared to its average volume of 622,004. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The stock has a 50-day moving average price of $805.96 and a 200 day moving average price of $755.13. The firm has a market cap of $111.51 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.56 and a beta of 1.37.

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

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.