W.H. Cornerstone Investments Inc. Acquires 103 Shares of BlackRock, Inc. (NYSE:BLK)

W.H. Cornerstone Investments Inc. lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 19.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 644 shares of the asset manager’s stock after purchasing an additional 103 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in BlackRock were worth $523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Emerald Advisors LLC grew its holdings in BlackRock by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in BlackRock by 1.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after acquiring an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its stake in BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 60 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in BlackRock during the fourth quarter valued at about $439,000. Finally, Patten & Patten Inc. TN purchased a new position in shares of BlackRock in the fourth quarter worth about $205,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Christopher J. Meade sold 3,100 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the completion of the sale, the general counsel now directly owns 8,628 shares in the company, valued at $6,849,424.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the transaction, the general counsel now directly owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 30,978 shares of the company’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 a total of 72,057 shares of company stock valued at $58,575,704 in the last quarter. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley increased their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Price Performance

Shares of BLK stock traded up $6.91 during trading hours on Friday, hitting $763.91. 558,283 shares of the company’s stock were exchanged, compared to its average volume of 689,289. The company has a market capitalization of $113.78 billion, a PE ratio of 19.41, a PEG ratio of 1.58 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The business’s 50 day simple moving average is $797.35 and its 200-day simple moving average is $766.29.

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