Marks Group Wealth Management Inc Sells 231 Shares of BlackRock, Inc. (NYSE:BLK)

Marks Group Wealth Management Inc decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 9.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,237 shares of the asset manager’s stock after selling 231 shares during the quarter. Marks Group Wealth Management Inc’s holdings in BlackRock were worth $1,816,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BLK. International Assets Investment Management LLC increased its stake in shares of BlackRock by 77,524.5% during the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after purchasing an additional 641,128 shares during the last quarter. FMR LLC increased its stake in shares of BlackRock by 22.0% during the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after purchasing an additional 379,631 shares during the last quarter. Invesco Ltd. increased its stake in shares of BlackRock by 84.4% during the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after purchasing an additional 340,792 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of BlackRock by 21.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after purchasing an additional 307,516 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of BlackRock by 24.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock worth $461,446,000 after purchasing an additional 139,570 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. 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 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 company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods restated 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. Morgan Stanley boosted their price target 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, April 15th. Finally, TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the sale, the director now owns 70,378 shares in the company, valued at $54,972,959.58. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the sale, the director now owns 70,378 shares in the company, valued at $54,972,959.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rachel Lord sold 36,059 shares of BlackRock 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 transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,511 shares of company stock valued at $66,778,367. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 1.1 %

BLK stock traded up $8.59 during trading on Tuesday, reaching $768.70. The company had a trading volume of 240,193 shares, compared to its average volume of 625,053. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a market cap of $114.49 billion, a P/E ratio of 19.47, a PEG ratio of 1.55 and a beta of 1.37. The business has a 50 day moving average of $804.19 and a 200 day moving average of $758.48. 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 (NYSE:BLK) last released 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. 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 the consensus estimate of $4.65 billion. During the same period in the prior year, the firm earned $7.93 earnings per share. BlackRock’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.19 earnings per share 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.