Spinnaker Trust Buys 179 Shares of BlackRock, Inc. (NYSE:BLK)

Spinnaker Trust raised its stake in BlackRock, Inc. (NYSE:BLK) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,052 shares of the asset manager’s stock after purchasing an additional 179 shares during the period. Spinnaker Trust’s holdings in BlackRock were worth $8,160,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BLK. Exchange Traded Concepts LLC lifted its stake in shares of BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Private Trust Co. NA lifted its position in BlackRock by 1.6% in the 3rd quarter. Private Trust Co. NA now owns 1,118 shares of the asset manager’s stock valued at $722,000 after acquiring an additional 18 shares in the last quarter. Oak Thistle LLC acquired a new position in BlackRock during the 3rd quarter valued at about $608,000. Blue Fin Capital Inc. increased its holdings in BlackRock by 0.7% during the 3rd quarter. Blue Fin Capital Inc. now owns 4,245 shares of the asset manager’s stock worth $2,745,000 after purchasing an additional 31 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of BlackRock by 8.8% in the third quarter. Handelsbanken Fonder AB now owns 37,866 shares of the asset manager’s stock worth $24,480,000 after purchasing an additional 3,075 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In related news, 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 transaction of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total transaction of $765,272.50. Following the transaction, the director now directly owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,511 shares of company stock valued at $66,778,367. 0.90% of the stock is currently owned by insiders.

BlackRock Price Performance

BlackRock stock traded up $5.18 during midday trading on Friday, reaching $762.83. 447,925 shares of the stock were exchanged, compared to its average volume of 625,928. 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, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The firm has a market cap of $113.62 billion, a PE ratio of 19.39, a PEG ratio of 1.58 and a beta of 1.37. The company’s fifty day moving average is $802.08 and its 200-day moving average is $760.15.

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, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $7.93 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BLK. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group boosted their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley boosted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

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.