Kestra Private Wealth Services LLC Buys 145 Shares of BlackRock, Inc. (NYSE:BLK)

Kestra Private Wealth Services LLC increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,903 shares of the asset manager’s stock after buying an additional 145 shares during the period. Kestra Private Wealth Services LLC’s holdings in BlackRock were worth $5,604,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Morgan Stanley raised its stake in BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after purchasing an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of BlackRock by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after buying an additional 35,161 shares in the last quarter. FMR LLC raised its position in shares of BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after buying an additional 379,631 shares in the last quarter. Wellington Management Group LLP raised its position in shares of BlackRock by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after buying an additional 307,516 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of BlackRock by 5.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,568,890 shares of the asset manager’s stock valued at $1,014,287,000 after buying an additional 74,974 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the sale, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the 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 transaction, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of BlackRock 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 directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,511 shares of company stock valued at $66,778,367. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BLK shares. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. boosted their target price 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. TD Cowen raised 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 report on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, 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 report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Trading Down 0.5 %

BLK traded down $3.77 during trading on Tuesday, reaching $757.51. 106,128 shares of the company’s stock were exchanged, compared to its average volume of 618,037. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $112.82 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The firm has a fifty day moving average price of $801.42 and a two-hundred day moving average price of $762.69.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share 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 firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the firm posted $7.93 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

BlackRock 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.