SlateStone Wealth LLC increased its holdings in BlackRock, Inc. (NYSE:BLK) by 0.6% during the first quarter, Holdings Channel reports. The fund owned 4,167 shares of the asset manager’s stock after acquiring an additional 23 shares during the quarter. SlateStone Wealth LLC’s holdings in BlackRock were worth $1,781,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of BLK. Norges Bank acquired a new stake in shares of BlackRock in the 4th quarter worth about $1,092,934,000. Pennsylvania Trust Co increased its stake in BlackRock by 5,049.8% in the 1st quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock valued at $44,805,000 after buying an additional 1,063,080 shares during the last quarter. Flossbach Von Storch AG increased its stake in BlackRock by 114.1% in the 4th quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock valued at $228,913,000 after buying an additional 310,623 shares during the last quarter. Beutel Goodman & Co Ltd. purchased a new stake in BlackRock in the 4th quarter valued at about $6,039,000. Finally, Partner Fund Management L.P. purchased a new stake in BlackRock in the 4th quarter valued at about $65,513,000. Institutional investors own 83.79% of the company’s stock.
Several equities research analysts have commented on BLK shares. Barclays increased their price objective on shares of BlackRock from $490.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Credit Suisse Group reiterated a “buy” rating and issued a $532.00 price objective on shares of BlackRock in a research note on Thursday, January 17th. Jefferies Financial Group upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price objective for the company in a research note on Tuesday, January 29th. Argus reiterated a “buy” rating on shares of BlackRock in a research note on Thursday, January 17th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $491.00 price objective for the company in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $509.38.
In related news, Director Jeff A. Smith sold 225 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $431.01, for a total value of $96,977.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gary Shedlin sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $467.99, for a total transaction of $1,286,972.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,483 shares of company stock valued at $19,221,303. 1.42% of the stock is currently owned by company insiders.
Shares of BLK stock opened at $446.58 on Thursday. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $557.00. The company has a market cap of $69.97 billion, a PE ratio of 16.58, a P/E/G ratio of 1.59 and a beta of 1.44.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter last year, the business posted $6.48 EPS. BlackRock’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts forecast that BlackRock, Inc. will post 27.78 earnings per share for the current fiscal year.
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.
See Also: How is a buy-side analyst different from a sell-side analyst?
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).