Greenleaf Trust Grows Position in BlackRock, Inc. (NYSE:BLK)

Greenleaf Trust boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 6,690 shares of the asset manager’s stock after acquiring an additional 344 shares during the quarter. Greenleaf Trust’s holdings in BlackRock were worth $5,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of BLK. Emerald Advisors LLC boosted its holdings in shares of BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of BlackRock by 1.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after acquiring an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its holdings in shares of BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 60 shares during the last quarter. Patten & Patten Inc. TN purchased a new stake in shares of BlackRock in the 4th quarter valued at $205,000. Finally, Sara Bay Financial purchased a new stake in shares of BlackRock in the 4th quarter valued at $387,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

NYSE:BLK traded up $2.68 during trading hours on Friday, reaching $749.98. 850,477 shares of the company were exchanged, compared to its average volume of 630,430. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average is $805.96 and its 200-day moving average is $755.13. The firm has a market cap of $111.70 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.93 earnings per share. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Wednesday, February 28th. The shares were 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 owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock worth $71,864,028 over the last three months. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.