Mogy Joel R Investment Counsel Inc. Has $11.75 Million Position in BlackRock, Inc. (NYSE:BLK)

Mogy Joel R Investment Counsel Inc. cut its position in BlackRock, Inc. (NYSE:BLK) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,478 shares of the asset manager’s stock after selling 165 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in BlackRock were worth $11,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Citizens Financial Group Inc. RI raised its position in shares of BlackRock by 16.8% in the 4th quarter. Citizens Financial Group Inc. RI now owns 460 shares of the asset manager’s stock valued at $373,000 after buying an additional 66 shares in the last quarter. Golden State Equity Partners increased its position in BlackRock by 8.8% during the 4th quarter. Golden State Equity Partners now owns 1,452 shares of the asset manager’s stock worth $1,178,000 after purchasing an additional 117 shares in the last quarter. Spinnaker Trust increased its position in BlackRock by 1.8% during the 4th quarter. Spinnaker Trust now owns 10,052 shares of the asset manager’s stock worth $8,160,000 after purchasing an additional 179 shares in the last quarter. Kovack Advisors Inc. increased its position in BlackRock by 12.0% during the 4th quarter. Kovack Advisors Inc. now owns 569 shares of the asset manager’s stock worth $462,000 after purchasing an additional 61 shares in the last quarter. Finally, First Fiduciary Investment Counsel Inc. increased its position in BlackRock by 3.2% during the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 19,116 shares of the asset manager’s stock worth $15,518,000 after purchasing an additional 594 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now owns 5,975 shares in the company, valued at $4,691,032.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, 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 value of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,511 shares of company stock worth $66,778,367. Insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.7 %

NYSE BLK traded up $5.23 on Friday, hitting $762.88. 447,939 shares of the company were exchanged, compared to its average volume of 683,111. The company has a market cap of $113.62 billion, a PE ratio of 19.39, a PEG ratio of 1.57 and a beta of 1.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The stock has a fifty day moving average of $802.08 and a 200-day moving average of $760.15. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the firm earned $7.93 earnings per share. BlackRock’s revenue was up 11.4% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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