Beverly Hills Private Wealth LLC Takes $4.19 Million Position in BlackRock, Inc. (NYSE:BLK)

Beverly Hills Private Wealth LLC purchased a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,082 shares of the asset manager's stock, valued at approximately $4,185,000. BlackRock accounts for 0.8% of Beverly Hills Private Wealth LLC's holdings, making the stock its 25th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amalgamated Bank lifted its position in shares of BlackRock by 1.7% during the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of BlackRock by 4.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock worth $12,793,000 after purchasing an additional 578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in BlackRock by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after acquiring an additional 4,210 shares during the last quarter. Artemis Investment Management LLP boosted its position in BlackRock by 48.2% during the 4th quarter. Artemis Investment Management LLP now owns 39,539 shares of the asset manager's stock valued at $40,532,000 after purchasing an additional 12,864 shares during the period. Finally, E. Ohman J or Asset Management AB bought a new position in shares of BlackRock during the fourth quarter worth about $46,284,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BLK. Citigroup cut their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group cut their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. TD Cowen cut their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods reduced 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,077.08.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 12,430 shares of company stock worth $11,237,249. Company insiders own 1.98% of the company's stock.

BlackRock Stock Performance

BlackRock stock traded down $4.75 on Tuesday, reaching $915.78. 481,294 shares of the stock were exchanged, compared to its average volume of 686,787. The stock has a market cap of $142.18 billion, a PE ratio of 21.80, a PEG ratio of 1.90 and a beta of 1.41. The firm has a fifty day moving average price of $915.48 and a two-hundred day moving average price of $979.95. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22. 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 (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the prior year, the company earned $9.81 EPS. The business's quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current 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.