Field & Main Bank Buys 75 Shares of BlackRock, Inc. (NYSE:BLK)

Field & Main Bank boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 8.5% during the fourth quarter, Holdings Channel reports. The firm owned 956 shares of the asset manager’s stock after purchasing an additional 75 shares during the quarter. Field & Main Bank’s holdings in BlackRock were worth $776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BLK. Abacus Planning Group Inc. increased its holdings in shares of BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares during the period. Everhart Financial Group Inc. raised its holdings in BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after purchasing an additional 14 shares in the last quarter. Spreng Capital Management Inc. lifted its position in shares of BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after buying an additional 14 shares during the last quarter. Inscription Capital LLC raised its stake in shares of BlackRock by 1.2% during the 4th quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock worth $1,034,000 after acquiring an additional 15 shares in the last quarter. Finally, ERTS Wealth Advisors LLC increased its position in shares of BlackRock by 2.9% during the fourth quarter. ERTS Wealth Advisors LLC now owns 538 shares of the asset manager’s stock worth $437,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BLK shares. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued 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 boosted their price target on BlackRock from $818.00 to $850.00 and gave the company 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Price Performance

Shares of BlackRock stock traded down $1.60 during trading hours on Monday, reaching $761.28. The stock had a trading volume of 483,707 shares, compared to its average volume of 624,333. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $113.39 billion, a PE ratio of 19.35, a PEG ratio of 1.58 and a beta of 1.37. The stock’s 50 day moving average is $801.42 and its 200 day moving average is $762.69.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. BlackRock’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.93 earnings per share. Equities analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Christopher J. Meade sold 3,100 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the completion of the transaction, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other BlackRock news, General Counsel Christopher J. Meade sold 3,100 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total value of $2,460,966.00. Following the transaction, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the sale, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,511 shares of company stock valued at $66,778,367. 0.90% of the stock is owned by corporate 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.