Foster & Motley Inc. Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Foster & Motley Inc. purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 329 shares of the asset manager’s stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Tennessee Valley Asset Management Partners purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA raised its position in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $32,000. Exchange Traded Concepts LLC raised its position in shares of BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in BlackRock during the 4th quarter worth approximately $40,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction 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 sale, the director now owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Martin Small sold 7,036 shares of BlackRock stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $786.36, for a total transaction of $5,532,828.96. Following the transaction, the chief financial officer now owns 5,259 shares in the company, valued at approximately $4,135,467.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 82,511 shares of company stock valued at $66,778,367 in the last 90 days. 0.90% of the stock is owned by insiders.

BlackRock Trading Down 0.5 %

Shares of BLK opened at $762.51 on Thursday. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. 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 firm’s fifty day moving average is $803.50 and its two-hundred day moving average is $759.33. The stock has a market cap of $113.57 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.59 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its 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. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the company posted $7.93 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reissued 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. UBS Group raised their price target 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. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley raised their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

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.