Centric Wealth Management Buys New Shares in BlackRock, Inc. (NYSE:BLK)

Centric Wealth Management acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 286 shares of the asset manager’s stock, valued at approximately $224,000.

Several other hedge funds also recently modified their holdings of BLK. Tennessee Valley Asset Management Partners bought a new position in BlackRock in the fourth quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in BlackRock in the 4th quarter valued at $32,000. Knuff & Co LLC increased its position in BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after buying an additional 13 shares during the period. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of BlackRock during the fourth quarter worth $40,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, 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 transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the completion of the sale, the director now directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders have sold a total of 71,087 shares of company stock valued at $57,814,366 in the last 90 days. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. upped 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. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, UBS Group upped their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Price Performance

Shares of BLK stock traded up $6.31 on Tuesday, reaching $780.95. The company had a trading volume of 777,395 shares, compared to its average volume of 620,987. The stock has a market capitalization of $116.31 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average is $796.34 and its 200 day moving average is $768.53. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The firm 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 company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $7.93 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 41.19 EPS 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.