Essex Savings Bank raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 24.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637 shares of the asset manager’s stock after buying an additional 127 shares during the period. Essex Savings Bank’s holdings in BlackRock were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. WESPAC Advisors SoCal LLC acquired a new stake in BlackRock during the fourth quarter worth about $25,000. Hanson McClain Inc. grew its position in BlackRock by 425.0% during the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after buying an additional 51 shares in the last quarter. Valley National Advisers Inc. grew its position in BlackRock by 81.8% during the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after buying an additional 27 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in BlackRock during the first quarter worth about $26,000. Finally, Private Ocean LLC grew its position in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after buying an additional 62 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

In other BlackRock news, Chairman Laurence Fink sold 31,250 shares of BlackRock stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marc D. Comerchero sold 600 shares of BlackRock stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $432.22, for a total transaction of $259,332.00. The disclosure for this sale can be found here. Insiders have sold 40,483 shares of company stock worth $19,221,303 over the last ninety days. Company insiders own 1.42% of the company’s stock.

NYSE BLK opened at $445.86 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49. The company has a market cap of $69.97 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 1.59 and a beta of 1.44. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $557.00.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $6.13 by $0.48. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. BlackRock had a return on equity of 13.46% and a net margin of 30.58%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $6.48 earnings per share. On average, sell-side analysts predict that BlackRock, Inc. will post 27.78 EPS for the current year.

BLK has been the topic of a number of recent research reports. Wells Fargo & Co reissued a “hold” rating and set a $425.00 target price (up from $410.00) on shares of BlackRock in a research report on Wednesday, January 16th. Argus reissued a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Credit Suisse Group reissued a “buy” rating and set a $532.00 target price on shares of BlackRock in a research report on Thursday, January 17th. Jefferies Financial Group raised BlackRock from a “hold” rating to a “buy” rating and set a $405.36 target price on the stock in a research report on Tuesday, January 29th. Finally, Morgan Stanley set a $515.00 target price on BlackRock and gave the stock a “buy” rating in a research report on Friday, February 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $509.38.

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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.

Further Reading: Strike Price

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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