Captrust Financial Advisors raised its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 21.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,037 shares of the asset manager's stock after buying an additional 1,397 shares during the quarter. Captrust Financial Advisors' holdings in BlackRock were worth $8,239,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of BLK. Norges Bank bought a new stake in BlackRock in the fourth quarter valued at approximately $2,356,357,000. Proficio Capital Partners LLC grew its position in shares of BlackRock by 138,682.5% in the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after purchasing an additional 633,779 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in BlackRock during the fourth quarter worth approximately $572,730,000. Amundi acquired a new stake in BlackRock during the fourth quarter worth approximately $528,792,000. Finally, Montrusco Bolton Investments Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at $343,976,000. Institutional investors own 80.69% of the company's stock.
Insiders Place Their Bets
In related news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares of the company's stock, valued at $56,261,628.34. The trade was a 2.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 12,430 shares of company stock worth $11,237,249. Company insiders own 1.98% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on BLK. StockNews.com began coverage on BlackRock in a report on Thursday, May 8th. They issued a "hold" rating on the stock. Bank of America dropped their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. TD Cowen dropped their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. UBS Group dropped their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company dropped their price target on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.
Get Our Latest Analysis on BlackRock
BlackRock Trading Up 0.5%
NYSE:BLK traded up $5.08 during trading hours on Wednesday, hitting $964.26. 248,649 shares of the company were exchanged, compared to its average volume of 685,702. The stock has a market capitalization of $149.70 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth 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 one year low of $752.30 and a one year high of $1,084.22. The company has a fifty day simple moving average of $912.82 and a 200 day simple moving average of $978.16.
BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the business posted $9.81 EPS. The business's revenue was up 11.6% compared to the same quarter last year. Sell-side analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.
About BlackRock
(
Free Report)
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.
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