Groesbeck Investment Management Corp NJ Has $849,000 Stake in BlackRock, Inc. (NYSE:BLK)

Groesbeck Investment Management Corp NJ trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,046 shares of the asset manager’s stock after selling 75 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in BlackRock were worth $849,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock during the fourth quarter worth approximately $27,000. LFA Lugano Financial Advisors SA raised its stake in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares during the last quarter. Tyler Stone Wealth Management bought a new stake in shares of BlackRock during the second quarter worth approximately $33,000. FSC Wealth Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter worth approximately $40,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in shares of BlackRock by 96.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock worth $40,000 after buying an additional 24 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of NYSE BLK traded up $4.89 during mid-day trading on Thursday, reaching $758.68. 162,592 shares of the company were exchanged, compared to its average volume of 621,077. The company’s 50-day simple moving average is $806.88 and its 200-day simple moving average is $755.19. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $113.00 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.55 and a beta of 1.37. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company posted $7.93 EPS. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts predict that BlackRock, Inc. will post 41.26 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley increased their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group increased their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

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.