W.H. Cornerstone Investments Inc. Grows Stake in BlackRock, Inc. (NYSE:BLK)

W.H. Cornerstone Investments Inc. boosted its position in BlackRock, Inc. (NYSE:BLK) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 644 shares of the asset manager’s stock after purchasing an additional 103 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in BlackRock were worth $523,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in BlackRock by 671.4% during 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 during the period. Brown Advisory Inc. grew its position in shares of BlackRock by 2.1% during the 3rd quarter. Brown Advisory Inc. now owns 72,382 shares of the asset manager’s stock valued at $46,795,000 after acquiring an additional 1,457 shares during the period. Everhart Financial Group Inc. increased its stake in shares of BlackRock by 8.2% in the 3rd quarter. Everhart Financial Group Inc. now owns 436 shares of the asset manager’s stock valued at $282,000 after purchasing an additional 33 shares in the last quarter. JB Capital LLC boosted its position in BlackRock by 16.1% during the third quarter. JB Capital LLC now owns 9,186 shares of the asset manager’s stock worth $5,938,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in shares of BlackRock by 26.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,364 shares of the asset manager’s stock valued at $882,000 after buying an additional 289 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.9 %

BlackRock stock traded up $6.91 during trading on Friday, reaching $763.91. 558,283 shares of the company were exchanged, compared to its average volume of 689,289. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The stock’s 50 day simple moving average is $797.35 and its two-hundred day simple moving average is $766.29. The company has a market capitalization of $113.78 billion, a P/E ratio of 19.41, a PEG ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings results 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. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm 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 company’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now directly 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 can be accessed through this link. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction dated 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 directly owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. Insiders sold a total of 72,057 shares of company stock valued at $58,575,704 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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