BlackRock, Inc. (NYSE:BLK) Stock Position Raised by Syon Capital LLC

Syon Capital LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 28.7% during the 4th quarter, HoldingsChannel reports. The firm owned 1,511 shares of the asset manager’s stock after buying an additional 337 shares during the quarter. Syon Capital LLC’s holdings in BlackRock were worth $1,226,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Emerald Advisors LLC raised its stake in shares of BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after purchasing an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in BlackRock by 1.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after buying an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its position in BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after buying an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in BlackRock during the fourth quarter valued at about $439,000. Finally, Patten & Patten Inc. TN bought a new stake in shares of BlackRock during the 4th quarter worth about $205,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several research analyst reports. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. upped their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley increased their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. 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, 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, April 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Stock Down 0.7 %

BlackRock stock traded down $5.15 during trading hours on Thursday, hitting $757.65. The stock had a trading volume of 503,611 shares, compared to its average volume of 628,070. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The stock has a market capitalization of $112.84 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.59 and a beta of 1.37. The stock’s 50-day moving average price is $803.50 and its 200-day moving average price is $759.33.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating 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 business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the company earned $7.93 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Activity

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 approximately $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value of $2,669,833.98. Following the sale, the director now owns 70,378 shares in the company, valued at $54,972,959.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of BlackRock 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 sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold 82,511 shares of company stock worth $66,778,367 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

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.