Glassy Mountain Advisors Inc. Invests $4.75 Million in BlackRock, Inc. (NYSE:BLK)

Glassy Mountain Advisors Inc. acquired a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,853 shares of the asset manager's stock, valued at approximately $4,752,000. BlackRock comprises about 2.0% of Glassy Mountain Advisors Inc.'s holdings, making the stock its 22nd biggest position.

A number of other large investors also recently bought and sold shares of the company. Beverly Hills Private Wealth LLC raised its position in shares of BlackRock by 1.2% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 4,710 shares of the asset manager's stock worth $3,823,000 after buying an additional 56 shares during the period. Root Financial Partners LLC bought a new stake in BlackRock during the fourth quarter worth approximately $239,000. River Street Advisors LLC increased its holdings in shares of BlackRock by 6.4% in the fourth quarter. River Street Advisors LLC now owns 1,853 shares of the asset manager's stock valued at $1,505,000 after buying an additional 112 shares in the last quarter. Freedom Day Solutions LLC purchased a new position in BlackRock during the 4th quarter worth approximately $236,000. Finally, BHK Investment Advisors LLC purchased a new position in shares of BlackRock during the 4th quarter valued at $204,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares of the company's stock, valued at $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rachel Lord sold 36,059 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.96% of the stock is currently owned by insiders.

BlackRock Price Performance

BlackRock stock traded down $22.56 during trading hours on Friday, hitting $763.40. 1,453,625 shares of the stock were exchanged, compared to its average volume of 623,436. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The stock has a market capitalization of $113.70 billion, a P/E ratio of 19.40, a P/E/G ratio of 1.65 and a beta of 1.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The business's 50-day moving average is $808.88 and its two-hundred day moving average is $753.65.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business had revenue of $4.73 billion for the quarter, compared to analysts' expectations of $4.65 billion. During the same period in the prior year, the firm earned $7.93 earnings per share. BlackRock's revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post 41.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BLK shares. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. UBS Group upped their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a "neutral" rating in a report on Friday. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, TD Cowen raised shares of BlackRock from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $802.29.

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.