SlateStone Wealth LLC Has $7.72 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

SlateStone Wealth LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 6.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,508 shares of the asset manager’s stock after purchasing an additional 576 shares during the quarter. BlackRock comprises approximately 1.0% of SlateStone Wealth LLC’s portfolio, making the stock its 24th largest holding. SlateStone Wealth LLC’s holdings in BlackRock were worth $7,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its stake in BlackRock by 77,524.5% in the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after purchasing an additional 641,128 shares in the last quarter. FMR LLC boosted its stake in shares of BlackRock by 22.0% during the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after acquiring an additional 379,631 shares during the period. Invesco Ltd. boosted its stake in shares of BlackRock by 84.4% during the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after acquiring an additional 340,792 shares during the period. Wellington Management Group LLP boosted its stake in shares of BlackRock by 21.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after acquiring an additional 307,516 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of BlackRock by 24.3% during the 3rd 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 period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK opened at $766.62 on Wednesday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The business has a 50 day moving average price of $803.96 and a two-hundred day moving average price of $759.31. The company has a market capitalization of $114.18 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. 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 (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.93 earnings per share. Research analysts predict that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target 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 upped their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, Morgan Stanley raised their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the sale, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the transaction, the director now owns 70,378 shares in the company, valued at approximately $54,972,959.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,511 shares of company stock valued at $66,778,367. Company insiders own 0.90% of the company’s stock.

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.