Cary Street Partners Financial LLC Takes $2.59 Million Position in BlackRock, Inc. (NYSE:BLK)

Cary Street Partners Financial LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,521 shares of the asset manager's stock, valued at approximately $2,585,000.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. IAG Wealth Partners LLC acquired a new position in BlackRock in the 4th quarter valued at about $26,000. Collier Financial acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $32,000. Compass Planning Associates Inc purchased a new stake in BlackRock during the 4th quarter worth approximately $33,000. Atwood & Palmer Inc. acquired a new stake in BlackRock during the 4th quarter worth approximately $36,000. Finally, West Financial Advisors LLC purchased a new position in BlackRock in the 4th quarter valued at approximately $39,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director J. Richard Kushel sold 430 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 12,430 shares of company stock valued at $11,237,249. Insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of NYSE BLK traded down $5.16 during trading hours on Friday, reaching $923.48. The stock had a trading volume of 684,779 shares, compared to its average volume of 685,833. The firm has a 50-day moving average of $913.01 and a 200-day moving average of $978.51. The firm has a market cap of $143.37 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period last year, the firm posted $9.81 earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group decreased their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. Barclays upped their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Morgan Stanley lowered their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Finally, StockNews.com assumed coverage on shares of BlackRock in a research report on Thursday. They set a "hold" rating for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and an average target price of $1,077.08.

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.