Northeast Financial Consultants Inc Buys 65 Shares of BlackRock, Inc. (NYSE:BLK)

Northeast Financial Consultants Inc increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 16.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 467 shares of the asset manager’s stock after buying an additional 65 shares during the quarter. Northeast Financial Consultants Inc’s holdings in BlackRock were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Amalgamated Bank increased its position in shares of BlackRock by 1.7% during the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock worth $29,432,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in BlackRock by 4.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock worth $12,793,000 after buying an additional 578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock worth $67,038,000 after buying an additional 4,210 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of BlackRock by 48.2% in the fourth quarter. Artemis Investment Management LLP now owns 39,539 shares of the asset manager’s stock valued at $40,532,000 after acquiring an additional 12,864 shares during the last quarter. Finally, E. Ohman J or Asset Management AB acquired a new position in shares of BlackRock in the 4th quarter worth approximately $46,284,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.1%

NYSE:BLK opened at $958.98 on Wednesday. The stock’s fifty day simple moving average is $912.82 and its 200-day simple moving average is $978.16. The firm has a market capitalization of $148.88 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22.

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

Insider Activity

In related news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the transaction, the director now directly owns 3,720 shares in the company, valued at approximately $3,531,656.40. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 12,430 shares of company stock valued at $11,237,249 in the last quarter. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BLK. Morgan Stanley cut their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. UBS Group cut their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Citigroup reduced their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Finally, StockNews.com started coverage on shares of BlackRock in a research report on Thursday, May 8th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.