Peoples Financial Services CORP. Acquires 100 Shares of BlackRock, Inc. (NYSE:BLK)

Peoples Financial Services CORP. lifted its stake in BlackRock, Inc. (NYSE:BLK) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 700 shares of the asset manager’s stock after buying an additional 100 shares during the period. Peoples Financial Services CORP.’s holdings in BlackRock were worth $299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WESPAC Advisors SoCal LLC bought a new stake in shares of BlackRock in the fourth quarter worth about $25,000. Hanson McClain Inc. grew its stake in shares of BlackRock by 425.0% in the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after purchasing an additional 51 shares during the last quarter. Private Ocean LLC grew its stake in shares of BlackRock by 620.0% in the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of BlackRock in the fourth quarter worth about $33,000. Finally, Legacy Financial Advisors Inc. grew its stake in shares of BlackRock by 125.6% in the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

BlackRock stock opened at $463.00 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64. The company has a market cap of $73.36 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.67 and a beta of 1.44. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $557.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a return on equity of 13.35% and a net margin of 30.58%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same period in the previous year, the firm posted $6.48 EPS. The business’s revenue was down 6.6% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 27.78 earnings per share for the current year.

In other news, insider Jeff A. Smith sold 75 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $479.40, for a total value of $35,955.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gary Shedlin sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $467.99, for a total value of $1,286,972.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,346 shares of company stock worth $39,030,645. Insiders own 1.42% of the company’s stock.

Several analysts recently issued reports on the company. Wells Fargo & Co raised their target price on BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research note on Wednesday, April 17th. Barclays raised their target price on BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Jefferies Financial Group raised BlackRock from a “hold” rating to a “buy” rating and set a $405.36 target price on the stock in a research note on Tuesday, January 29th. Credit Suisse Group cut their price objective on BlackRock from $573.00 to $529.00 and set an “outperform” rating on the stock in a research report on Monday, January 14th. Finally, Morgan Stanley lifted their price objective on BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus 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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