BlackRock, Inc. (BLK) Shares Bought by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,012 shares of the asset manager’s stock after purchasing an additional 73 shares during the period. Stokes Capital Advisors LLC’s holdings in BlackRock were worth $2,142,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of BlackRock in the fourth quarter worth $1,092,934,000. Northern Trust Corp lifted its position in BlackRock by 0.9% during the fourth quarter. Northern Trust Corp now owns 1,666,574 shares of the asset manager’s stock valued at $654,663,000 after purchasing an additional 14,587 shares during the last quarter. Geode Capital Management LLC lifted its position in BlackRock by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after purchasing an additional 60,941 shares during the last quarter. Pennsylvania Trust Co lifted its position in BlackRock by 5,049.8% during the first quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock valued at $44,805,000 after purchasing an additional 1,063,080 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its position in BlackRock by 9.5% during the first quarter. Flossbach Von Storch AG now owns 638,366 shares of the asset manager’s stock valued at $272,818,000 after purchasing an additional 55,623 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Several equities analysts have commented on BLK shares. Barclays increased their price objective on shares of BlackRock from $490.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Credit Suisse Group reiterated a “buy” rating and set a $532.00 price objective on shares of BlackRock in a research report on Thursday, January 17th. Jefferies Financial Group upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price objective for the company in a research report on Tuesday, January 29th. Argus reiterated a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Finally, Morgan Stanley set a $515.00 price objective on shares of BlackRock and gave the company a “buy” rating in a research report on Friday, February 8th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $509.38.

In related news, CFO Gary Shedlin sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total value of $1,286,972.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 75 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $479.40, for a total transaction of $35,955.00. The disclosure for this sale can be found here. Insiders sold a total of 44,346 shares of company stock valued at $20,869,645 in the last 90 days. Company insiders own 1.42% of the company’s stock.

Shares of BlackRock stock traded up $6.26 during trading on Tuesday, hitting $449.04. The stock had a trading volume of 9,011 shares, compared to its average volume of 604,439. The firm has a market capitalization of $73.17 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.67 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 12 month low of $360.79 and a 12 month high of $557.00.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.13 by $0.48. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.30 billion. BlackRock had a net margin of 30.58% and a return on equity of 13.35%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $6.48 EPS. As a group, sell-side analysts predict that BlackRock, Inc. will post 27.78 earnings per share for the current fiscal year.

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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.

See Also: Initial Public Offering (IPO)

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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