BlackRock, Inc. (NYSE:BLK) Stock Position Increased by PGGM Investments

PGGM Investments grew its position in BlackRock, Inc. (NYSE:BLK) by 95.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,346 shares of the asset manager’s stock after purchasing an additional 656 shares during the period. PGGM Investments’ holdings in BlackRock were worth $1,093,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new stake in BlackRock during the 4th quarter valued at $27,000. LFA Lugano Financial Advisors SA raised its stake in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in BlackRock in the fourth quarter worth about $32,000. Exchange Traded Concepts LLC grew its position in BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 70,378 shares in the company, valued at approximately $54,972,959.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the transaction, the director now directly owns 70,378 shares in the company, valued at $54,972,959.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,511 shares of company stock worth $66,778,367. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. lifted their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group upped their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Morgan Stanley upped their price target 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Stock Performance

Shares of BLK opened at $761.28 on Tuesday. The company has a 50-day moving average of $801.42 and a two-hundred day moving average of $762.69. The stock has a market cap of $113.39 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.58 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $7.93 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current year.

BlackRock Company 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.