Accredited Wealth Management LLC Acquires New Holdings in BlackRock, Inc. (NYSE:BLK)

Accredited Wealth Management LLC bought a new position in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 86 shares of the asset manager’s stock, valued at approximately $88,000.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in BlackRock during the fourth quarter valued at about $2,356,357,000. Proficio Capital Partners LLC increased its holdings in shares of BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock valued at $634,000 after acquiring an additional 633,779 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of BlackRock in the 4th quarter valued at approximately $572,730,000. Amundi acquired a new stake in BlackRock in the 4th quarter worth approximately $528,792,000. Finally, Montrusco Bolton Investments Inc. bought a new stake in BlackRock during the fourth quarter worth approximately $343,976,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director now owns 66,034 shares of the company’s stock, valued at $60,256,025. The trade was a 13.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 12,430 shares of company stock worth $11,237,249. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Up 1.3 %

BLK opened at $928.47 on Friday. The company has a market capitalization of $144.15 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm’s fifty day moving average price is $916.68 and its two-hundred day moving average price is $981.38. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the previous year, the business earned $9.81 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. On average, analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. StockNews.com began coverage on shares of BlackRock in a report on Wednesday. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their price objective on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company decreased their target price on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley dropped their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,077.08.

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.