Onyx Bridge Wealth Group LLC Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Onyx Bridge Wealth Group LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 335 shares of the asset manager’s stock, valued at approximately $272,000.

Several other hedge funds have also recently made changes to their positions in the stock. Abacus Planning Group Inc. grew its position in BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after buying an additional 13 shares during the period. Everhart Financial Group Inc. grew its position in BlackRock by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after buying an additional 14 shares during the period. Spreng Capital Management Inc. grew its position in BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after buying an additional 14 shares during the period. Holderness Investments Co. grew its position in BlackRock by 2.6% during the second quarter. Holderness Investments Co. now owns 602 shares of the asset manager’s stock valued at $416,000 after buying an additional 15 shares during the period. Finally, Inscription Capital LLC grew its position in shares of BlackRock by 1.2% in the fourth quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after purchasing an additional 15 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.4 %

BLK stock traded up $2.68 during trading on Friday, reaching $749.98. 867,880 shares of the stock were exchanged, compared to its average volume of 641,054. The business has a 50 day moving average price of $805.02 and a 200-day moving average price of $755.87. The firm has a market capitalization of $111.70 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 1.55 and a beta of 1.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. 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 released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.93 EPS. On average, research analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Activity

In other news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now owns 4,437 shares in the company, valued at $3,574,225.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,511 shares of company stock valued at $71,864,028. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group boosted their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley boosted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

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.