Mach 1 Financial Group LLC Invests $1.09 Million in BlackRock $BLK

Mach 1 Financial Group LLC bought a new position in BlackRock (NYSE:BLKFree Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,022 shares of the asset manager’s stock, valued at approximately $1,094,000.

Other large investors also recently bought and sold shares of the company. Birchbrook Inc. purchased a new position in BlackRock during the 4th quarter valued at $31,000. LFA Lugano Financial Advisors SA purchased a new position in BlackRock during the 4th quarter valued at $32,000. Hopwood Financial Services Inc. boosted its holdings in BlackRock by 866.7% during the 3rd quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 26 shares during the period. Collier Financial purchased a new position in BlackRock during the 3rd quarter valued at $36,000. Finally, Goodman Advisory Group LLC purchased a new position in BlackRock during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BLK shares. Weiss Ratings upgraded BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. CICC Research boosted their price objective on BlackRock from $1,000.00 to $1,250.00 in a report on Tuesday, February 3rd. Morgan Stanley boosted their price objective on BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Jefferies Financial Group dropped their price objective on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group lifted their target price on BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,269.06.

Get Our Latest Analysis on BLK

BlackRock Trading Up 1.3%

BLK opened at $1,050.09 on Thursday. The firm has a market cap of $163.01 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.35 and a beta of 1.44. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock has a fifty day moving average price of $1,013.75 and a 200-day moving average price of $1,054.00.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping the consensus estimate of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted $9.64 EPS. As a group, equities research analysts anticipate that BlackRock will post 52.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the completion of the transaction, the president directly owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the transaction, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 45,249 shares of company stock valued at $47,671,714. 1.92% of the stock is currently owned by insiders.

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BlackRock Company Profile

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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