Flagship Harbor Advisors LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,017 shares of the asset manager’s stock after purchasing an additional 98 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in BlackRock were worth $434,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of BLK. Blue Fin Capital Inc. boosted its stake in BlackRock by 7.5% in the third quarter. Blue Fin Capital Inc. now owns 4,739 shares of the asset manager’s stock worth $2,234,000 after buying an additional 329 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in BlackRock in the third quarter valued at approximately $236,000. Point72 Asset Management L.P. bought a new stake in BlackRock in the third quarter valued at approximately $1,508,000. Mackenzie Financial Corp lifted its position in BlackRock by 0.3% in the third quarter. Mackenzie Financial Corp now owns 103,063 shares of the asset manager’s stock valued at $48,577,000 after purchasing an additional 324 shares during the last quarter. Finally, HRT Financial LLC bought a new stake in BlackRock in the third quarter valued at approximately $228,000. 83.64% of the stock is owned by institutional investors.
Shares of BlackRock stock opened at $466.54 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.64. The company has a market cap of $71.41 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $557.00.
BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $6.13 by $0.48. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.30 billion. BlackRock had a return on equity of 13.51% and a net margin of 30.32%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.48 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 27.07 earnings per share for the current fiscal year.
Several analysts have weighed in on the company. Citigroup boosted their price objective on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $491.00 price objective for the company in a research report on Tuesday, April 2nd. Barclays boosted their price objective on BlackRock from $455.00 to $472.00 and gave the company an “overweight” rating in a research report on Tuesday, February 19th. Morgan Stanley set a $515.00 price objective on BlackRock and gave the company a “buy” rating in a research report on Friday, February 8th. Finally, Argus reiterated a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $501.53.
In other BlackRock news, COO Robert L. Goldstein sold 5,133 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $443.00, for a total value of $2,273,919.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider J. Richard Kushel sold 3,077 shares of the stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $409.29, for a total value of $1,259,385.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,650 shares of company stock valued at $57,774,089. 1.75% of the stock is owned by corporate insiders.
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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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