Keel Point LLC Increases Position in BlackRock, Inc. (NYSE:BLK)

Keel Point LLC lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 587 shares of the asset manager’s stock after acquiring an additional 76 shares during the quarter. Keel Point LLC’s holdings in BlackRock were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BLK. Emerald Advisors LLC boosted its stake in BlackRock by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of BlackRock by 1.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after buying an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. boosted its stake in shares of BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after buying an additional 60 shares during the period. Patten & Patten Inc. TN acquired a new stake in shares of BlackRock during the fourth quarter worth about $205,000. Finally, Sara Bay Financial acquired a new stake in BlackRock in the fourth quarter valued at about $387,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.1 %

BLK stock opened at $762.99 on Tuesday. The stock has a market capitalization of $113.64 billion, a P/E ratio of 19.39, a PEG ratio of 1.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The company has a 50 day moving average price of $808.48 and a two-hundred day moving average price of $754.48.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the company earned $7.93 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that BlackRock, Inc. will post 41.35 EPS for the current year.

Insider Activity

In related news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares in the company, valued at $4,691,032.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock valued at $71,864,028 in the last ninety days. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BLK shares. Morgan Stanley raised their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group lifted their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday. Finally, TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $811.43.

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.