Valley Brook Capital Group Inc. Makes New $234,000 Investment in BlackRock, Inc. (NYSE:BLK)

Valley Brook Capital Group Inc. bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 288 shares of the asset manager’s stock, valued at approximately $234,000.

A number of other institutional investors have also modified their holdings of BLK. International Assets Investment Management LLC increased its position in shares of BlackRock by 77,524.5% during the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after acquiring an additional 641,128 shares during the period. FMR LLC increased its holdings in BlackRock by 22.0% during the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after buying an additional 379,631 shares during the period. Invesco Ltd. increased its holdings in BlackRock by 84.4% during the third quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock valued at $481,486,000 after buying an additional 340,792 shares during the period. Wellington Management Group LLP increased its holdings in BlackRock by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after buying an additional 307,516 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in BlackRock by 24.3% during the third quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock valued at $461,446,000 after buying an additional 139,570 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director J. Richard Kushel sold 520 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $784.69, for a total transaction of $408,038.80. Following the completion of the transaction, the director now directly owns 4,150 shares of the company’s stock, valued at approximately $3,256,463.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,057 shares of company stock worth $58,575,704. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BLK shares. UBS Group lifted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Morgan Stanley increased their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Stock Performance

NYSE:BLK traded up $6.91 during midday trading on Friday, hitting $763.91. The company’s stock had a trading volume of 558,283 shares, compared to its average volume of 689,289. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The firm’s 50 day moving average is $797.35 and its 200-day moving average is $766.29. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The firm has a market cap of $113.78 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate 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 period last year, the firm earned $7.93 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share 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.