Colton Groome Financial Advisors LLC Buys 505 Shares of BlackRock, Inc. (NYSE:BLK)

Colton Groome Financial Advisors LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 33.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,034 shares of the asset manager’s stock after purchasing an additional 505 shares during the quarter. Colton Groome Financial Advisors LLC’s holdings in BlackRock were worth $1,651,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new stake in BlackRock during the fourth quarter valued at about $27,000. LFA Lugano Financial Advisors SA boosted 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 acquiring an additional 25 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in BlackRock in the second quarter worth about $33,000. Exchange Traded Concepts LLC raised 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 acquiring an additional 47 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in BlackRock during the fourth quarter valued at approximately $40,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 0.9 %

NYSE BLK traded down $6.71 on Thursday, reaching $747.08. 614,875 shares of the company were exchanged, compared to its average volume of 627,263. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two 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. The stock has a market capitalization of $111.27 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37. The business’s fifty day moving average price is $806.88 and its 200 day moving average price is $755.19.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the business earned $7.93 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post 41.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The stock was 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 in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was 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 in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock worth $71,864,028 over the last quarter. 0.90% of the stock is currently owned by company insiders.

About BlackRock

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.