Brooktree Capital Management Purchases Shares of 247 BlackRock, Inc. (NYSE:BLK)

Brooktree Capital Management bought a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 247 shares of the asset manager’s stock, valued at approximately $201,000. BlackRock comprises about 0.2% of Brooktree Capital Management’s investment portfolio, making the stock its 29th biggest holding.

Several other large investors have also made changes to their positions in the company. St. Louis Trust Co raised its position in shares of BlackRock by 3.9% in the 4th quarter. St. Louis Trust Co now owns 1,662 shares of the asset manager’s stock valued at $1,349,000 after acquiring an additional 62 shares during the period. Savant Capital LLC grew its stake in shares of BlackRock by 3.1% during the 4th quarter. Savant Capital LLC now owns 6,500 shares of the asset manager’s stock worth $5,276,000 after acquiring an additional 196 shares in the last quarter. MONECO Advisors LLC bought a new position in shares of BlackRock during the 4th quarter worth approximately $202,000. Northcape Wealth Management LLC bought a new position in shares of BlackRock in the fourth quarter valued at $204,000. Finally, Mission Wealth Management LP grew its stake in shares of BlackRock by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 1,619 shares of the asset manager’s stock valued at $1,314,000 after buying an additional 38 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BLK shares. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. 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 research note on Friday, April 5th. TD Cowen raised 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 research note on Tuesday, January 16th. Morgan Stanley increased their target price 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. Finally, UBS Group increased their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Stock Performance

BLK traded up $2.88 during midday trading on Wednesday, reaching $757.52. The company had a trading volume of 112,245 shares, compared to its average volume of 615,719. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $800.56 and a two-hundred day moving average of $763.59. The company has a market cap of $112.83 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the business posted $7.93 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, General Counsel Christopher J. Meade sold 3,100 shares of BlackRock stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total value of $2,460,966.00. Following the transaction, the general counsel now directly owns 8,628 shares in the company, valued at approximately $6,849,424.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total value of $2,460,966.00. Following the completion of the transaction, the general counsel now owns 8,628 shares of the company’s stock, valued at approximately $6,849,424.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was 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 of the company’s stock, valued at $4,691,032.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,511 shares of company stock worth $66,778,367. 0.90% of the stock is currently owned by company insiders.

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.