Wynn Capital LLC Buys Shares of 1,432 BlackRock, Inc. (NYSE:BLK)

Wynn Capital LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,432 shares of the asset manager’s stock, valued at approximately $1,162,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Morgan Stanley increased its stake in shares of BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after purchasing an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of BlackRock by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after purchasing an additional 35,161 shares in the last quarter. FMR LLC increased its stake in shares of BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after purchasing an additional 379,631 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of BlackRock by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after purchasing an additional 307,516 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of BlackRock by 5.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,568,890 shares of the asset manager’s stock worth $1,014,287,000 after purchasing an additional 74,974 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group upped 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Morgan Stanley upped their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the transaction, the director now owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the sale, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,511 shares of company stock valued at $66,778,367. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK traded down $4.11 during midday trading on Wednesday, hitting $762.51. 751,160 shares of the company traded hands, compared to its average volume of 629,645. The firm has a 50 day moving average of $803.96 and a 200-day moving average of $759.31. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The stock has a market cap of $113.57 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS 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 business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the firm earned $7.93 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

BlackRock Company 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.