Northcape Wealth Management LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Northcape Wealth Management LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 251 shares of the asset manager’s stock, valued at approximately $204,000.

Other institutional investors have also recently made changes to their positions in the company. Emerald Advisors LLC lifted its position in BlackRock by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after buying an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in BlackRock by 1.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after purchasing an additional 21 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after purchasing an additional 60 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in BlackRock in the 4th quarter worth approximately $439,000. Finally, Patten & Patten Inc. TN bought a new position in shares of BlackRock during the 4th quarter valued at approximately $205,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 3,418 shares of the 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 completion of the transaction, 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 document filed with the SEC, which is accessible through this link. In other BlackRock news, Director Stephen Cohen sold 950 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 3,418 shares of the firm’s 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 sale, 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. In the last three months, insiders sold 82,511 shares of company stock valued at $66,778,367. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Down 0.8 %

NYSE:BLK opened at $754.90 on Wednesday. The stock has a 50-day simple moving average of $800.56 and a 200-day simple moving average of $763.59. The stock has a market cap of $112.43 billion, a P/E ratio of 19.18, a P/E/G ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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 company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the firm earned $7.93 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Morgan Stanley upped their price objective 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. UBS Group increased their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

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.