BlackRock, Inc. (NYSE:BLK) Shares Purchased by Choreo LLC

Choreo LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 847 shares of the asset manager’s stock after buying an additional 155 shares during the quarter. Choreo LLC’s holdings in BlackRock were worth $688,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new position in BlackRock in the fourth quarter worth approximately $27,000. LFA Lugano Financial Advisors SA grew its position in BlackRock by 208.3% in 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. Wetzel Investment Advisors Inc. acquired a new position in BlackRock in the fourth quarter worth approximately $32,000. Exchange Traded Concepts LLC grew its position in BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after purchasing an additional 47 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in BlackRock during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $750.90 on Thursday. The company’s fifty day moving average is $799.47 and its 200-day moving average is $763.50. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The firm has a market cap of $111.84 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. 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 results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the business posted $7.93 EPS. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley upped their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. boosted their price objective 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. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurence Fink sold 30,978 shares of the firm’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 transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,093 shares of company stock worth $64,108,533. 0.90% of the stock is owned by insiders.

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.