BlackRock (BLK) Stake Boosted by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. grew its holdings in BlackRock (NYSE:BLK) by 14.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,317 shares of the asset manager’s stock after purchasing an additional 1,890 shares during the period. BlackRock makes up about 1.7% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 21st biggest position. Adell Harriman & Carpenter Inc.’s holdings in BlackRock were worth $8,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BLK. Berkshire Asset Management LLC PA boosted its holdings in shares of BlackRock by 33.0% during the 4th quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock valued at $462,000 after acquiring an additional 223 shares in the last quarter. Close Asset Management Ltd acquired a new stake in shares of BlackRock during the 4th quarter valued at $46,456,000. Harwood Advisory Group LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at $2,371,000. Morse Asset Management Inc acquired a new stake in shares of BlackRock during the 4th quarter valued at $257,000. Finally, SG Americas Securities LLC lifted its holdings in BlackRock by 5,864.9% during the 4th quarter. SG Americas Securities LLC now owns 27,856 shares of the asset manager’s stock worth $14,310,000 after buying an additional 27,389 shares during the period. Institutional investors own 84.44% of the company’s stock.

In related news, COO Robert L. Goldstein sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $558.00, for a total value of $2,790,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William E. Ford bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was purchased at an average cost of $530.95 per share, with a total value of $530,950.00. The disclosure for this purchase can be found here. Insiders sold a total of 15,686 shares of company stock worth $8,573,450 over the last three months. 1.75% of the stock is owned by company insiders.

Several brokerages have commented on BLK. Zacks Investment Research downgraded BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Deutsche Bank cut their target price on BlackRock from $623.00 to $614.00 and set a “buy” rating on the stock in a report on Friday, April 6th. ValuEngine downgraded BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Credit Suisse Group lifted their target price on BlackRock from $678.00 to $682.00 and gave the stock an “outperform” rating in a report on Friday, April 13th. Finally, JPMorgan Chase reaffirmed an “overweight” rating and set a $640.00 target price on shares of BlackRock in a report on Wednesday, March 14th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $566.62.

Shares of BlackRock opened at $539.76 on Tuesday, MarketBeat.com reports. The stock has a market capitalization of $87.16 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.63 and a beta of 1.67. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.96 and a current ratio of 3.96. BlackRock has a 1 year low of $535.93 and a 1 year high of $544.69.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.39 by $0.31. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. BlackRock had a return on equity of 12.76% and a net margin of 39.22%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $5.25 EPS. equities research analysts forecast that BlackRock will post 28.06 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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