Strategy Asset Managers LLC Takes $84,000 Position in BlackRock, Inc. (BLK)

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Strategy Asset Managers LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 196 shares of the asset manager’s stock, valued at approximately $84,000.

Other hedge funds also recently added to or reduced their stakes in the company. Valley National Advisers Inc. increased its position in BlackRock by 81.8% during the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after purchasing an additional 27 shares in the last quarter. WESPAC Advisors SoCal LLC acquired a new position in BlackRock in the 4th quarter valued at approximately $25,000. Hanson McClain Inc. increased its position in BlackRock by 425.0% in the 4th quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 51 shares during the period. Private Ocean LLC increased its position in BlackRock by 620.0% in the 4th quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 62 shares during the period. Finally, Evolution Wealth Advisors LLC acquired a new position in BlackRock in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Shares of NYSE:BLK traded down $7.36 during trading on Thursday, reaching $431.78. The stock had a trading volume of 7,454 shares, compared to its average volume of 506,545. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $557.00. The firm has a market cap of $68.25 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.59 and a beta of 1.44.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, beating the Zacks’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the prior year, the firm posted $6.48 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 27.78 earnings per share for the current year.

In other news, insider Jeff A. Smith sold 75 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $479.40, for a total value of $35,955.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Laurence Fink sold 31,250 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,658 shares of company stock worth $18,864,994. Insiders own 1.42% of the company’s stock.

Several equities analysts have issued reports on BLK shares. Bank of America restated a “buy” rating and issued a $498.00 price target (up from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Deutsche Bank upped their price target on shares of BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a research report on Friday, March 15th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Jefferies Financial Group upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price target for the company in a research report on Tuesday, January 29th. Finally, Barclays upped their price target on shares of BlackRock from $472.00 to $490.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $509.38.

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BlackRock Company 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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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