Integrated Wealth Concepts LLC Buys 1,375 Shares of BlackRock, Inc. (NYSE:BLK)

Integrated Wealth Concepts LLC lifted its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 159.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,238 shares of the asset manager's stock after buying an additional 1,375 shares during the period. Integrated Wealth Concepts LLC's holdings in BlackRock were worth $2,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after purchasing an additional 68,405 shares during the last quarter. Capital World Investors grew its holdings in BlackRock by 2.3% during the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after acquiring an additional 93,844 shares during the last quarter. Geode Capital Management LLC increased its position in BlackRock by 6.8% in the 4th 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 in the last quarter. FMR LLC raised its stake in shares of BlackRock by 1.1% in the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock worth $2,450,475,000 after acquiring an additional 26,485 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of BlackRock during the fourth quarter worth approximately $2,356,357,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 0.6 %

Shares of BLK traded down $5.85 during mid-day trading on Wednesday, hitting $914.67. 1,028,814 shares of the company's stock were exchanged, compared to its average volume of 687,286. The company has a 50-day simple moving average of $919.18 and a 200 day simple moving average of $982.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market cap of $142.01 billion, a PE ratio of 21.78, a P/E/G ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a 52 week low of $748.78 and a 52 week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 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 company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the business posted $9.81 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BLK has been the subject of several recent research reports. Bank of America dropped their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wells Fargo & Company cut their target price on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. StockNews.com initiated coverage on shares of BlackRock in a report on Wednesday. They issued a "hold" rating for the company. Finally, TD Cowen dropped their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,077.08.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares of the company's stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 22,430 shares of company stock valued at $21,963,649. 1.98% of the stock is owned by insiders.

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.