Bay Colony Advisory Group Inc d b a Bay Colony Advisors Increases Stake in BlackRock, Inc. (NYSE:BLK)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in BlackRock, Inc. (NYSE:BLK) by 6.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,172 shares of the asset manager’s stock after purchasing an additional 71 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in BlackRock were worth $952,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new stake in BlackRock during the 4th quarter valued at $27,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares during the last quarter. Tyler Stone Wealth Management bought a new position in shares of BlackRock in the 2nd quarter worth approximately $33,000. Exchange Traded Concepts LLC lifted its stake in shares of BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after purchasing an additional 47 shares during the period. Finally, FSC Wealth Advisors LLC purchased a new position in BlackRock during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BLK. UBS Group boosted their target price 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 set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, 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 research note on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $802.29.

Insider Buying and Selling

In other news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the transaction, the general counsel now directly owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Christopher J. Meade sold 3,100 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the completion of the sale, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,511 shares of company stock valued at $71,864,028. Insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.7 %

Shares of BLK stock opened at $769.00 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The firm has a market capitalization of $114.53 billion, a PE ratio of 19.40, a P/E/G ratio of 1.65 and a beta of 1.37. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The business’s fifty day moving average price is $808.88 and its 200 day moving average price is $753.65.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the firm posted $7.93 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.35 EPS for the current fiscal year.

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.