Accredited Wealth Management LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Accredited Wealth Management LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 86 shares of the asset manager’s stock, valued at approximately $88,000.

Other institutional investors have also recently bought and sold shares of the company. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at $26,000. Collier Financial acquired a new stake in BlackRock in the 4th quarter valued at about $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock in the fourth quarter worth about $33,000. Atwood & Palmer Inc. acquired a new position in shares of BlackRock during the fourth quarter worth approximately $36,000. Finally, West Financial Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $39,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of several research reports. Morgan Stanley reduced their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company decreased their price target on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Bank of America dropped their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Citigroup reduced their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,077.08.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 430 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the transaction, the director now directly owns 3,720 shares in the company, valued at approximately $3,531,656.40. This trade represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 12,430 shares of company stock worth $11,237,249 over the last ninety days. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Up 1.3 %

Shares of BlackRock stock opened at $928.47 on Friday. The company has a market capitalization of $144.15 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The business has a 50-day moving average of $916.68 and a two-hundred day moving average of $981.38. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the prior year, the business earned $9.81 EPS. BlackRock’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock 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.