Onyx Bridge Wealth Group LLC Invests $272,000 in BlackRock, Inc. (NYSE:BLK)

Onyx Bridge Wealth Group LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 335 shares of the asset manager’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BLK. Fairfield Bush & CO. bought a new stake in BlackRock in the first quarter valued at about $115,000. United Bank increased its stake in BlackRock by 17.1% in the first quarter. United Bank now owns 1,287 shares of the asset manager’s stock valued at $983,000 after acquiring an additional 188 shares during the period. Panagora Asset Management Inc. increased its stake in BlackRock by 2.6% in the first quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock valued at $1,512,000 after acquiring an additional 51 shares during the period. Sequoia Financial Advisors LLC grew its stake in BlackRock by 35.4% during the first quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock worth $783,000 after buying an additional 268 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in BlackRock by 11.7% during the first quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock worth $1,110,000 after buying an additional 152 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction on 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 sale, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock worth $71,864,028 in the last quarter. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.4 %

Shares of BlackRock stock traded up $2.68 during trading on Friday, reaching $749.98. 867,880 shares of the company traded hands, compared to its average volume of 641,054. 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 1-year low of $596.18 and a 1-year high of $845.00. The company has a 50 day moving average price of $805.02 and a 200-day moving average price of $755.87. The firm has a market capitalization of $111.70 billion, a PE ratio of 19.06, a P/E/G ratio of 1.55 and a beta of 1.37.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the company earned $7.93 EPS. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group lifted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Morgan Stanley lifted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Three 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, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

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.