Resonant Capital Advisors LLC Boosts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Resonant Capital Advisors LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 628 shares of the asset manager’s stock after buying an additional 16 shares during the period. Resonant Capital Advisors LLC’s holdings in BlackRock were worth $510,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock during the fourth quarter valued at $27,000. LFA Lugano Financial Advisors SA grew its position in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the period. Tyler Stone Wealth Management acquired a new stake in BlackRock during the second quarter valued at $33,000. Exchange Traded Concepts LLC grew its position in BlackRock by 671.4% during the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares during the period. Finally, FSC Wealth Advisors LLC acquired a new stake in BlackRock during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group lifted their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley lifted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $845.42.

Insiders Place Their Bets

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction dated Monday, January 22nd. The shares were 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 of the company’s stock, valued at $3,366,142.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction dated Monday, January 22nd. The shares were 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 of the company’s stock, valued at $3,366,142.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated 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 transaction, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock valued at $71,864,028 over the last ninety days. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK opened at $749.98 on Friday. The firm has a market capitalization of $111.70 billion, a PE ratio of 19.06, a PEG 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. The firm’s 50-day moving average price is $805.02 and its 200 day moving average price is $755.87. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share 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 firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the business posted $7.93 earnings per share. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

BlackRock Company 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.