Fairview Capital Investment Management LLC Buys New Position in BlackRock, Inc. (NYSE:BLK)

Fairview Capital Investment Management LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, Holdings Channel.com reports. The fund purchased 311 shares of the asset manager’s stock, valued at approximately $319,000.

A number of other institutional investors also recently made changes to their positions in BLK. IAG Wealth Partners LLC bought a new stake in BlackRock during the fourth quarter worth approximately $26,000. Collier Financial bought a new stake in shares of BlackRock in the 4th quarter worth $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock in the fourth quarter valued at $33,000. Atwood & Palmer Inc. bought a new position in BlackRock during the fourth quarter valued at about $36,000. Finally, West Financial Advisors LLC acquired a new position in BlackRock during the fourth quarter worth about $39,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 430 shares of BlackRock stock in a transaction on 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 sale, the director now owns 3,720 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 12,430 shares of company stock valued at $11,237,249 in the last quarter. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Down 0.6 %

Shares of BlackRock stock opened at $923.48 on Friday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The stock has a 50-day moving average price of $913.01 and a 200 day moving average price of $978.51. The company has a market cap of $143.37 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.90 and a beta of 1.41.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLK. Wells Fargo & Company cut their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a report on Monday, April 14th. TD Cowen cut their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,077.08.

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.