EPG Wealth Management LLC Invests $2.38 Million in BlackRock, Inc. (NYSE:BLK)

EPG Wealth Management LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,322 shares of the asset manager's stock, valued at approximately $2,380,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after buying an additional 68,405 shares during the period. Capital World Investors grew its stake in BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after acquiring an additional 93,844 shares during the period. Geode Capital Management LLC raised its holdings in shares of BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after acquiring an additional 190,188 shares during the last quarter. FMR LLC boosted its stake in BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock worth $2,450,475,000 after purchasing an additional 26,485 shares during the last quarter. Finally, Norges Bank purchased a new position in BlackRock in the 4th quarter worth approximately $2,356,357,000. Institutional investors own 80.69% of the company's stock.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction on Thursday, April 24th. The shares were 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 12,430 shares of company stock worth $11,237,249 in the last three months. Insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup reduced their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. TD Cowen dropped their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. UBS Group dropped their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company decreased their price target on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,077.08.

BlackRock Stock Performance

Shares of BLK traded down $5.16 during mid-day trading on Friday, hitting $923.48. The company's stock had a trading volume of 684,779 shares, compared to its average volume of 686,149. The stock's 50-day moving average is $913.01 and its two-hundred day moving average is $978.44. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm has a market capitalization of $143.37 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same period last year, the business earned $9.81 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. As a group, 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.