Barlow Wealth Partners Inc. Takes $939,000 Position in BlackRock, Inc. (NYSE:BLK)

Barlow Wealth Partners Inc. bought a new stake in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,157 shares of the asset manager’s stock, valued at approximately $939,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in BlackRock by 77,524.5% in the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after buying an additional 641,128 shares in the last quarter. FMR LLC raised its position in BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after buying an additional 379,631 shares during the last quarter. Invesco Ltd. lifted its stake in BlackRock by 84.4% during the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock valued at $481,486,000 after acquiring an additional 340,792 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of BlackRock by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after purchasing an additional 307,516 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of BlackRock by 24.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock worth $461,446,000 after buying an additional 139,570 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated 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 approximately $335,425,128.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold a total of 67,987 shares of company stock worth $55,353,400 in the last three months. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BlackRock Stock Performance

BlackRock stock traded down $2.59 during midday trading on Wednesday, hitting $778.33. The stock had a trading volume of 662,317 shares, compared to its average volume of 621,472. The company has a market capitalization of $115.92 billion, a PE ratio of 19.71, a P/E/G 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. The firm’s fifty day moving average is $796.34 and its two-hundred day moving average is $768.53. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLK) last released its quarterly earnings data 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 firm 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%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.93 earnings per share. On average, research analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current year.

BlackRock Company 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.