Morse Asset Management Inc Has $393,000 Stake in BlackRock, Inc. (NYSE:BLK)

Morse Asset Management Inc lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 455.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 383 shares of the asset manager’s stock after purchasing an additional 314 shares during the quarter. Morse Asset Management Inc’s holdings in BlackRock were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of BlackRock by 1.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the asset manager’s stock valued at $14,703,000 after purchasing an additional 232 shares in the last quarter. MJP Associates Inc. ADV acquired a new stake in BlackRock during the 4th quarter worth approximately $456,000. Lighthouse Investment Partners LLC bought a new stake in BlackRock during the 4th quarter worth approximately $13,710,000. Investment Management Corp of Ontario raised its stake in shares of BlackRock by 40.6% during the fourth quarter. Investment Management Corp of Ontario now owns 7,014 shares of the asset manager’s stock valued at $7,190,000 after acquiring an additional 2,024 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in shares of BlackRock during the fourth quarter worth $800,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director J. Richard Kushel sold 2,000 shares of the company’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares in the company, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 12,430 shares of company stock worth $11,237,249 over the last three months. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Performance

Shares of BlackRock stock opened at $958.98 on Wednesday. The business has a 50-day simple moving average of $912.82 and a 200 day simple moving average of $978.16. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm has a market capitalization of $148.88 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $9.81 earnings per share. On average, research analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on BLK. Barclays raised their target price on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company lowered their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a report on Monday, April 14th. TD Cowen reduced their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group lowered their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,077.08.

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.