Flossbach Von Storch AG increased its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 335,827 shares of the asset manager’s stock after purchasing an additional 4,308 shares during the quarter. BlackRock makes up about 1.2% of Flossbach Von Storch AG’s investment portfolio, making the stock its 20th largest holding. Flossbach Von Storch AG owned about 0.23% of BlackRock worth $272,624,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of BlackRock in the 4th quarter worth about $27,000. LFA Lugano Financial Advisors SA grew its holdings in BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the period. Tyler Stone Wealth Management bought a new position in shares of BlackRock during the second quarter valued at approximately $33,000. Exchange Traded Concepts LLC lifted its holdings in shares of 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 purchasing an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in shares of BlackRock in the 4th quarter worth approximately $40,000. 80.69% of the stock is currently owned by institutional investors.
BlackRock Stock Performance
BLK stock traded up $4.08 during trading on Wednesday, reaching $753.75. The stock had a trading volume of 585,432 shares, compared to its average volume of 627,427. The stock’s 50 day moving average is $806.88 and its two-hundred day moving average is $755.19. The firm has a market cap of $112.26 billion, a PE ratio of 19.16, a PEG ratio of 1.53 and a beta of 1.37. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32.
Insider Buying and Selling
In other news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on BLK. Morgan Stanley raised 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. UBS Group upped their price target on shares of 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. raised their price objective 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, TD Cowen upgraded shares of 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 report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $811.43.
Get Our Latest Stock Report on BlackRock
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.
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