ShoreHaven Wealth Partners LLC Invests $243,000 in BlackRock, Inc. (NYSE:BLK)

ShoreHaven Wealth Partners LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 299 shares of the asset manager’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in shares of BlackRock by 77,524.5% in the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after buying an additional 641,128 shares in the last quarter. FMR LLC boosted 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 worth $1,361,064,000 after purchasing an additional 379,631 shares in the last quarter. Invesco Ltd. increased its position in BlackRock by 84.4% during the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock valued at $481,486,000 after buying an additional 340,792 shares in the last quarter. Wellington Management Group LLP raised its stake in BlackRock by 21.4% in the third 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 during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of BlackRock by 24.3% during the third quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock worth $461,446,000 after acquiring an additional 139,570 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock traded down $2.59 during trading hours on Wednesday, reaching $778.33. 662,317 shares of the company’s stock were exchanged, compared to its average volume of 621,472. 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 market cap of $115.92 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The company’s 50 day moving average is $796.34 and its two-hundred day moving average is $768.53.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.93 EPS. Equities research analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now owns 4,437 shares in the company, valued at $3,574,225.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,987 shares of company stock worth $55,353,400. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on BLK shares. Morgan Stanley upped their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. 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 report on Friday, April 12th. JPMorgan Chase & Co. raised their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Finally, TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and increased their price target 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

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.