Farther Finance Advisors LLC Buys 797 Shares of BlackRock $BLK

Farther Finance Advisors LLC boosted its stake in shares of BlackRock (NYSE:BLK) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,054 shares of the asset manager’s stock after purchasing an additional 797 shares during the quarter. Farther Finance Advisors LLC’s holdings in BlackRock were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. HM Payson & Co. boosted its position in BlackRock by 0.6% during the third quarter. HM Payson & Co. now owns 1,444 shares of the asset manager’s stock valued at $1,683,000 after purchasing an additional 9 shares in the last quarter. PUREfi Wealth LLC boosted its holdings in BlackRock by 2.0% in the third quarter. PUREfi Wealth LLC now owns 460 shares of the asset manager’s stock worth $536,000 after acquiring an additional 9 shares in the last quarter. Shum Financial Group Inc. boosted its holdings in BlackRock by 0.4% in the fourth quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager’s stock worth $2,336,000 after acquiring an additional 9 shares in the last quarter. Salem Investment Counselors Inc. boosted its holdings in BlackRock by 8.6% in the third quarter. Salem Investment Counselors Inc. now owns 126 shares of the asset manager’s stock worth $147,000 after acquiring an additional 10 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its holdings in BlackRock by 2.8% in the third quarter. Archford Capital Strategies LLC now owns 372 shares of the asset manager’s stock worth $434,000 after acquiring an additional 10 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, COO Robert L. Goldstein sold 54,190 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $1,087.29, for a total value of $58,920,245.10. Following the completion of the transaction, the chief operating officer directly owned 51,478 shares in the company, valued at $55,971,514.62. This trade represents a 51.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J. Richard Kushel sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $1,125.00, for a total value of $22,500,000.00. Following the completion of the transaction, the director owned 61,894 shares of the company’s stock, valued at approximately $69,630,750. The trade was a 24.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 84,272 shares of company stock worth $92,323,426 over the last three months. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BLK. Jefferies Financial Group lowered their price target on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. CICC Research raised their price target on BlackRock from $1,000.00 to $1,250.00 in a report on Tuesday, February 3rd. Freedom Capital raised BlackRock from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Evercore reissued an “outperform” rating and issued a $1,220.00 price target on shares of BlackRock in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,266.28.

BlackRock Trading Up 2.7%

Shares of NYSE:BLK opened at $1,052.56 on Friday. BlackRock has a 52-week low of $845.82 and a 52-week high of $1,219.94. The stock has a market cap of $163.71 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.41 and a beta of 1.48. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $1,012.55 and a 200-day moving average price of $1,067.73.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.40 by $0.13. BlackRock had a return on equity of 14.96% and a net margin of 24.40%.The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the business posted $9.64 earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 EPS for the current year.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Q1 results beat expectations — BlackRock reported stronger-than-expected revenue and EPS with healthy net inflows, which supports fee growth and the stock’s rally. BlackRock, Inc. Just Beat Earnings Expectations
• Positive Sentiment: Senior management bullish — Rick Rieder highlighted “extraordinary” equity technicals and strong earnings momentum on Bloomberg, reinforcing a risk-on view that can attract flows into BlackRock products. BlackRock’s Rieder Says Equity Technicals Are Extraordinary
• Positive Sentiment: Analyst support and higher targets — Recent analyst notes and a new UBS price target lift sentiment and provide cover for buyers after the earnings print. BlackRock Given New $1,270.00 Price Target at UBS Group
• Positive Sentiment: Media endorsements and product demand — Commentary (including Jim Cramer) and attention to BlackRock’s private-credit capabilities and high-yield iShares ETFs may support asset-gathering prospects. Jim Cramer Highlights “BlackRock Has Good Private Credit”
• Neutral Sentiment: Product innovation / retirement flows — Coverage about private assets possibly entering 401(k)s and interest in BlackRock dividend/high-yield ETFs could expand addressable market over time, but adoption and regulation are still uncertain. Private Assets Could Join Your 401(k): What You Need To Know 5 Best High-Yield BlackRock Dividend ETFs Paying Over 5%
• Negative Sentiment: Private-credit liquidity concerns — Investors remain wary after a March cap on quarterly repurchases at BlackRock’s HPS corporate-lending vehicle and softer quarter-end AUM versus year-end, which pressured sentiment and prompted a post-earnings pullback earlier in the week. BlackRock slips 3.2% as investors digest Q1 results and lingering private-credit concerns
• Negative Sentiment: Investor lawsuit inquiry — Pomerantz has opened an investigation into BLK investor claims; legal action can create headline risk and potential costs, keeping some investors cautious. Pomerantz Law Firm Investigates Claims On Behalf of Investors of BlackRock

BlackRock Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.