BlackRock, Inc. (BLK) Stake Raised by Lavaca Capital LLC

Lavaca Capital LLC lifted its position in BlackRock, Inc. (NYSE:BLK) by 196.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151 shares of the asset manager’s stock after purchasing an additional 100 shares during the period. Lavaca Capital LLC’s holdings in BlackRock were worth $65,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WESPAC Advisors SoCal LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $25,000. Hanson McClain Inc. boosted its holdings in shares of BlackRock by 425.0% in the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 51 shares during the period. Private Ocean LLC boosted its holdings in shares of BlackRock by 620.0% in the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 62 shares during the period. Evolution Wealth Advisors LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $33,000. Finally, Highwater Wealth Management LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Shares of BLK stock traded up $6.09 during trading hours on Friday, reaching $482.50. 367,280 shares of the company’s stock were exchanged, compared to its average volume of 608,776. The company has a market cap of $76.25 billion, a PE ratio of 17.92, a PEG ratio of 1.75 and a beta of 1.44. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $557.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.13 by $0.48. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. BlackRock had a return on equity of 13.35% and a net margin of 30.58%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $6.48 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post 27.67 earnings per share for the current year.

In other news, COO Robert L. Goldstein sold 5,133 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $443.00, for a total transaction of $2,273,919.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeff A. Smith sold 2,250 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $415.78, for a total value of $935,505.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,596 shares of company stock worth $41,217,270. Insiders own 1.42% of the company’s stock.

A number of research firms have weighed in on BLK. Deutsche Bank lowered BlackRock from a “buy” rating to a “hold” rating and lowered their target price for the stock from $444.00 to $405.00 in a report on Thursday, January 10th. Keefe, Bruyette & Woods restated a “buy” rating and set a $472.00 target price on shares of BlackRock in a report on Wednesday, January 9th. Jefferies Financial Group restated a “hold” rating and set a $427.00 target price on shares of BlackRock in a report on Wednesday, January 9th. Morgan Stanley lowered their target price on BlackRock from $514.00 to $489.00 and set an “overweight” rating for the company in a report on Friday, January 4th. Finally, Barclays upped their target price on BlackRock from $472.00 to $490.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $509.38.

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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