6 Meridian Invests $6.45 Million in BlackRock (BLK) Stock

6 Meridian acquired a new position in shares of BlackRock (NYSE:BLK) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,901 shares of the asset manager’s stock, valued at approximately $6,447,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of BlackRock by 4.4% in the fourth quarter. BlackRock Inc. now owns 7,255,797 shares of the asset manager’s stock valued at $3,727,377,000 after purchasing an additional 307,213 shares during the period. Clearbridge Investments LLC increased its stake in shares of BlackRock by 2.6% in the fourth quarter. Clearbridge Investments LLC now owns 1,855,275 shares of the asset manager’s stock valued at $953,073,000 after purchasing an additional 47,692 shares during the period. Geode Capital Management LLC increased its stake in shares of BlackRock by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 1,260,724 shares of the asset manager’s stock valued at $646,251,000 after purchasing an additional 46,914 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of BlackRock by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 463,251 shares of the asset manager’s stock valued at $250,953,000 after acquiring an additional 25,901 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of BlackRock by 31.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 442,328 shares of the asset manager’s stock valued at $227,228,000 after acquiring an additional 106,315 shares in the last quarter. Hedge funds and other institutional investors own 84.44% of the company’s stock.

Shares of NYSE:BLK opened at $535.58 on Friday. The company has a market cap of $85.99 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.61 and a beta of 1.67. BlackRock has a 1-year low of $530.37 and a 1-year high of $536.99. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 1.02.

BlackRock (NYSE:BLK) last issued its earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.39 by $0.31. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $5.25 earnings per share. sell-side analysts anticipate that BlackRock will post 28.06 EPS for the current year.

Several research analysts have recently issued reports on the stock. Credit Suisse Group increased their price objective on shares of BlackRock from $678.00 to $682.00 and gave the company an “outperform” rating in a report on Friday, April 13th. JPMorgan Chase reiterated an “overweight” rating and issued a $640.00 price objective on shares of BlackRock in a report on Wednesday, March 14th. Deutsche Bank decreased their price objective on shares of BlackRock from $623.00 to $614.00 and set a “buy” rating for the company in a report on Friday, April 6th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. Finally, Citigroup cut shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price objective for the company. in a report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $566.62.

In related news, insider Jeff A. Smith sold 650 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $544.55, for a total value of $353,957.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ryan Stork sold 7,136 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $543.50, for a total transaction of $3,878,416.00. The disclosure for this sale can be found here. Insiders have sold 15,686 shares of company stock valued at $8,573,450 over the last 90 days. 1.86% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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