Legacy Capital Wealth Partners LLC Invests $279,000 in BlackRock, Inc. (NYSE:BLK)

Legacy Capital Wealth Partners LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 344 shares of the asset manager’s stock, valued at approximately $279,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Abacus Planning Group Inc. boosted its stake in shares of BlackRock by 4.0% in the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 13 shares during the period. Everhart Financial Group Inc. grew its holdings in shares of BlackRock by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 14 shares during the last quarter. Spreng Capital Management Inc. lifted its stake in BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after buying an additional 14 shares during the last quarter. Inscription Capital LLC lifted its position in BlackRock by 1.2% in the 4th quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after purchasing an additional 15 shares during the last quarter. Finally, ERTS Wealth Advisors LLC boosted its position in shares of BlackRock by 2.9% during the fourth quarter. ERTS Wealth Advisors LLC now owns 538 shares of the asset manager’s stock worth $437,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the business’s stock in a transaction on 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 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 Securities & Exchange Commission, which is available at this link. In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of BlackRock stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the sale, the director now directly owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,511 shares of company stock worth $66,778,367. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently 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 company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their price target 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. Keefe, Bruyette & Woods reissued 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 report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Performance

NYSE BLK opened at $761.28 on Tuesday. The company’s fifty day moving average is $801.42 and its two-hundred day moving average is $762.69. The firm has a market capitalization of $113.39 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 1.58 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, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the business earned $7.93 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current year.

BlackRock 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.