Golden State Equity Partners Acquires 117 Shares of BlackRock, Inc. (NYSE:BLK)

Golden State Equity Partners increased its holdings in BlackRock, Inc. (NYSE:BLK) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,452 shares of the asset manager’s stock after purchasing an additional 117 shares during the quarter. Golden State Equity Partners’ holdings in BlackRock were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BLK. Exchange Traded Concepts LLC grew its stake in shares of BlackRock by 671.4% in the third 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 last quarter. Private Trust Co. NA boosted its position in BlackRock by 1.6% during the 3rd quarter. Private Trust Co. NA now owns 1,118 shares of the asset manager’s stock valued at $722,000 after acquiring an additional 18 shares in the last quarter. Oak Thistle LLC bought a new stake in BlackRock during the 3rd quarter valued at approximately $608,000. Blue Fin Capital Inc. boosted its position in BlackRock by 0.7% during the 3rd quarter. Blue Fin Capital Inc. now owns 4,245 shares of the asset manager’s stock valued at $2,745,000 after acquiring an additional 31 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in BlackRock by 8.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 37,866 shares of the asset manager’s stock valued at $24,480,000 after acquiring an additional 3,075 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $762.88 on Friday. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The firm has a market cap of $113.62 billion, a P/E ratio of 19.39, a PEG ratio of 1.58 and a beta of 1.37. The company has a 50 day moving average of $802.08 and a 200 day moving average of $760.98. 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 (NYSE:BLK) last announced its quarterly earnings data 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 company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the business earned $7.93 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on 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 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 document filed with the SEC, which is available through this link. In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock worth $66,778,367 in the last three months. 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.