ShoreHaven Wealth Partners LLC Takes $243,000 Position in BlackRock, Inc. (NYSE:BLK)

ShoreHaven Wealth Partners LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 299 shares of the asset manager’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Abacus Planning Group Inc. grew its stake 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 worth $271,000 after buying an additional 13 shares in the last quarter. Knuff & Co LLC lifted its stake in BlackRock by 48.1% in the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after acquiring an additional 13 shares during the period. Everhart Financial Group Inc. lifted its holdings in BlackRock by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after buying an additional 14 shares during the period. 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. Finally, Inscription Capital LLC increased its position in BlackRock by 1.2% during the 4th quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after buying an additional 15 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLK has been the subject of a number of recent analyst reports. Morgan Stanley lifted 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. UBS Group lifted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. 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. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $845.42.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’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 sale, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 directly owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold a total of 67,987 shares of company stock valued at $55,353,400 over the last quarter. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Down 0.3 %

Shares of BlackRock stock traded down $2.59 during trading hours on Wednesday, reaching $778.33. 662,317 shares of the company’s stock were exchanged, compared to its average volume of 621,472. The firm has a market capitalization of $115.92 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a fifty day moving average of $796.34 and a 200-day moving average of $768.53.

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 firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $7.93 EPS. Sell-side analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

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.