Axxcess Wealth Management LLC Has $2.83 Million Position in BlackRock, Inc. (NYSE:BLK)

Axxcess Wealth Management LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,484 shares of the asset manager’s stock after selling 129 shares during the quarter. Axxcess Wealth Management LLC’s holdings in BlackRock were worth $2,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BLK. Tennessee Valley Asset Management Partners bought a new stake in BlackRock during the fourth quarter worth $27,000. LFA Lugano Financial Advisors SA increased its holdings in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in BlackRock in the fourth quarter valued at about $32,000. FSC Wealth Advisors LLC bought a new position in shares of BlackRock during the 4th quarter valued at approximately $40,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of BlackRock by 96.0% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock worth $40,000 after purchasing an additional 24 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BlackRock news, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the sale, the general counsel now directly owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, General Counsel Christopher J. Meade sold 3,100 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,057 shares of company stock worth $58,575,704. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

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

BlackRock Stock Up 0.9 %

BlackRock stock traded up $6.91 during trading hours on Friday, hitting $763.91. The stock had a trading volume of 558,283 shares, compared to its average volume of 689,289. The stock’s 50-day moving average price is $797.35 and its 200-day moving average price is $764.35. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. 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 stock has a market capitalization of $113.78 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted 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. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the company earned $7.93 earnings per share. BlackRock’s revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

About BlackRock

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.