PFG Investments LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 44.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 697 shares of the asset manager’s stock after acquiring an additional 215 shares during the period. PFG Investments LLC’s holdings in BlackRock were worth $581,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after purchasing an additional 749,654 shares in the last quarter. Capital World Investors lifted its holdings in shares of BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after acquiring an additional 1,279,952 shares in the last quarter. Morgan Stanley boosted its position in BlackRock by 3.2% during 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 during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 35,161 shares in the last quarter. Finally, Capital International Investors raised its position in BlackRock by 2.4% in the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after purchasing an additional 58,681 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.
BlackRock Stock Down 0.2 %
Shares of BlackRock stock traded down $1.60 during trading on Monday, reaching $761.28. The company had a trading volume of 483,707 shares, compared to its average volume of 624,333. 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 fifty-two week low of $596.18 and a fifty-two week high of $845.00. The firm’s fifty day moving average is $801.42 and its 200-day moving average is $762.69. The company has a market cap of $113.39 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their price objective 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 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. Morgan Stanley upped 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 note on Monday, April 15th. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $845.42.
View Our Latest Stock Report on BLK
Insider Buying and Selling
In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s 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 completion of the sale, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 stock was 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 of the company’s stock, valued at approximately $54,972,959.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold 82,511 shares of company stock worth $66,778,367 over the last ninety days. 0.90% of the stock is owned by insiders.
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.
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