Northeast Financial Consultants Inc Has $479,000 Position in BlackRock, Inc. (NYSE:BLK)

Northeast Financial Consultants Inc lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 16.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 467 shares of the asset manager’s stock after buying an additional 65 shares during the period. Northeast Financial Consultants Inc’s holdings in BlackRock were worth $479,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Aprio Wealth Management LLC acquired a new stake in BlackRock during the 4th quarter valued at $235,000. Brookstone Capital Management lifted its position in BlackRock by 9.4% during the fourth quarter. Brookstone Capital Management now owns 1,014 shares of the asset manager’s stock worth $1,039,000 after purchasing an additional 87 shares during the period. Capital Investment Advisors LLC lifted its position in shares of BlackRock by 3.2% during the 4th quarter. Capital Investment Advisors LLC now owns 1,456 shares of the asset manager’s stock worth $1,492,000 after buying an additional 45 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of BlackRock by 244.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 210 shares of the asset manager’s stock valued at $215,000 after purchasing an additional 149 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its position in BlackRock by 2.5% during the 4th quarter. Miracle Mile Advisors LLC now owns 579 shares of the asset manager’s stock worth $593,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BLK. Citigroup cut 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 report on Monday, April 14th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays boosted their price target on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Finally, Morgan Stanley dropped their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,077.08.

Insider Activity

In other news, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares in the company, valued at $56,261,628.34. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 12,430 shares of company stock valued at $11,237,249 in the last ninety days. 1.98% of the stock is owned by company insiders.

BlackRock Stock Performance

NYSE:BLK opened at $958.98 on Wednesday. The company has a market capitalization of $148.88 billion, a PE ratio of 22.83, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a 50 day simple moving average of $912.82 and a two-hundred day simple moving average of $978.16.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the previous year, the business earned $9.81 earnings per share. BlackRock’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current year.

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.